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The Insolvency (Northern Ireland) Order 1989
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Point in time view as at 04/01/2024.
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The Insolvency (Northern Ireland) Order 1989, Cross Heading: Misfeasance is up to date with all changes known to be in force on or before 28 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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[F1MisfeasanceN.I.
F1Sch. B1 inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(2), Sch. 1 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)
76.—(1) The High Court may examine the conduct of a person who—N.I.
(a)is or purports to be the administrator of a company, or
(b)has been or has purported to be the administrator of a company.
(2) An examination under this paragraph may be held only on the application of—
(a)the official receiver,
(b)the administrator of the company,
(c)the liquidator of the company,
(d)a creditor of the company, or
(e)a contributory of the company.
(3) An application under sub-paragraph (2) must allege that the administrator—
(a)has misapplied or retained money or other property of the company,
(b)has become accountable for money or other property of the company,
(c)has breached a fiduciary or other duty in relation to the company, or
(d)has been guilty of misfeasance.
(4) On an examination under this paragraph into a person's conduct the Court may order him—
(a)to repay, restore or account for money or property;
(b)to pay interest;
(c)to contribute a sum to the company's property by way of compensation for breach of duty or misfeasance.
(5) In sub-paragraph (3) “administrator” includes a person who purports or has purported to be a company's administrator.
(6) An application under sub-paragraph (2) may be made in respect of an administrator who has been discharged under paragraph 99 only with the permission of the Court.]
Modifications etc. (not altering text)
C1Sch. B1 para. 76 applied (with modifications) (4.1.2024) by S.I. 2021/716, reg. 37A (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12)
C2Sch. B1 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)
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