- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (29/08/2023)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 04/01/2024
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The Insolvency (Northern Ireland) Order 1989, Section 142 is up to date with all changes known to be in force on or before 13 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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142.—(1) Where a company is being wound up by the High Court, the liquidator may—
(a)with the sanction of the Court or the liquidation committee, exercise any of the powers specified in Parts I and II of Schedule 2 (payment of debts; compromise of claims, etc.; institution and defence of proceedings; carrying on of the business of the company), and
(b)with or without that sanction, exercise any of the general powers specified in Part III of Schedule 2.
(2) Where the liquidator (not being the official receiver), in exercise of the powers conferred on him by this Order—
(a)disposes of any property of the company to a person who is connected with the company (within the meaning given by Article 7), or
(b)employs a solicitor to assist him in the carrying out of his functions,
he shall, if there is for the time being a liquidation committee, give notice to the committee of that exercise of his powers.
(3) The exercise by the liquidator in a winding up by the High Court of the powers conferred by this Article is subject to the control of the Court, and any creditor or contributory may apply to the Court with respect to any exercise or proposed exercise of any of those powers.
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