Insolvency Act 1986

169 Supplementary powers (Scotland).E+W+S

(1)In the case of a winding up in Scotland, the court may provide by order that the liquidator may, where there is no liquidation committee, exercise any of the following powers, namely—

(a)to bring or defend any action or other legal proceeding in the name and on behalf of the company, or

(b)to carry on the business of the company so far as may be necessary for its beneficial winding up,

without the sanction or intervention of the court.

(2)In a winding up by the court in Scotland, the liquidator has (subject to the rules) the same powers as a trustee on a bankrupt estate.

Modifications etc. (not altering text)

C1S. 169 applied (with modifications) (S.) (6.4.2001) by S.S.I. 2001/128, reg. 4(1), Sch. 2

C2S. 169 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 103, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 2