- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (31/01/2019)
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The Insolvency (Northern Ireland) Order 1989
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Point in time view as at 31/01/2019.
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The Insolvency (Northern Ireland) Order 1989, Section 99 is up to date with all changes known to be in force on or before 12 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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No liquidator appointed or nominated by companyN.I.
99.—(1) This Article applies where, in the case of a voluntary winding up, no liquidator has been appointed or nominated by the company.
(2) The powers of the directors shall not be exercised, except with the sanction of the High Court or (in the case of a creditors' voluntary winding up) so far as may be necessary to secure compliance with Article 84 (creditors' meeting) and Article 85 (statement of affairs), during the period before the appointment or nomination of a liquidator of the company.
(3) Paragraph (2) does not apply in relation to the powers of the directors—
(a)to dispose of perishable goods and other goods the value of which is likely to diminish if they are not immediately disposed of, and
(b)to do all such other things as may be necessary for the protection of the company's assets.
(4) If the directors of the company without reasonable excuse contravene this Article, they shall be guilty of an offence.
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