The Insolvency Amendment (EU 2015/848) Regulations 2017

59.  In section 204 (early dissolution: Scotland)(1) after subsection (4) insert— U.K.

“(4A) Subsection (4B) applies where immediately before the liquidator makes an application under subsection (2), there are EU insolvency proceedings open in respect of the company in one or more other member States.

(4B) The liquidator must send to the registrar with the copy of the order forwarded under subsection (4) a statement—

(a) identifying those proceedings,

(b) identifying the member State liquidator appointed in each of those proceedings, and

(c) indicating, in relation to each of those member State liquidators, whether that member State liquidator consents to the company being dissolved.

(4C) The registrar must forthwith register a statement received under subsection (4B).

(4D) Subsection (4E) applies where—

(a) the court makes an order under subsection (3) that the company be dissolved in accordance with this section, but

(b) a statement under subsection (4B) indicates that a member State liquidator does not consent to the company being dissolved.

(4E) The company is deemed to be dissolved at the end of the period of 3 months beginning with the date (if any) recorded in the register as the date on which the registrar was notified that—

(a) all proceedings identified in the statement under subsection (4B) were closed, or

(b) every member State liquidator appointed in those proceedings consented to the company being dissolved.”

Commencement Information

I1 Sch. para. 59 in force at 26.6.2017, see reg. 1

(1)

Section 204 has been amended by SSI 2016/141. Amendments made by the Small Business, Enterprise and Employment Act 2015 have not been commenced in respect of Scotland.