[F1A24Duty of directors to notify monitor of insolvency proceedings etcU.K.
(1)The directors of a company must notify the monitor before taking any of the following steps during a moratorium—
(a)presenting a petition for the winding up of the company;
(b)making an administration application in respect of the company;
(c)appointing an administrator under paragraph 22(2) of Schedule B1.
(2)The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under section 84(1)(b).
(3)The rules may make provision about the timing of a notice required to be given under subsection (1) or (2).
(4)If the directors fail to comply with subsection (1) or (2), any director who did not have a reasonable excuse for the failure commits an offence.]