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The Insolvency (Northern Ireland) Order 1989
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The Insolvency (Northern Ireland) Order 1989, Section 105 is up to date with all changes known to be in force on or before 03 January 2025. 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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Changes and effects yet to be applied to Article 105:
- Instrument amended by 1998 c. 11 s. 23 Sch. 5 Pt.1 Ch. 3 para. 40
- Instrument amended (prosp) by S.I. 1994/279 (N.I.) art. 26(1) Sch. 2 para. 15
- art. 2B inserted by 2016 c. 2 (N.I.) s. 2(1)
- art. 208ZA-208ZB inserted by 2016 c. 2 (N.I.) s. 1(1)
- art. 345A-345B inserted by 2016 c. 2 (N.I.) s. 1(2)
Changes and effects yet to be applied to the whole Order associated Parts and Chapters:
Whole provisions yet to be inserted into this Order (including any effects on those provisions):
- art. 2B inserted by 2016 c. 2 (N.I.) s. 2(1)
- art. 208ZA-208ZB inserted by 2016 c. 2 (N.I.) s. 1(1)
- art. 345A-345B inserted by 2016 c. 2 (N.I.) s. 1(2)
Powers of High Court on hearing of petitionN.I.
105.—(1) On hearing a winding‐up petition the High Court may dismiss it, or adjourn the hearing conditionally or unconditionally, or make an interim order, or any other order that it thinks fit; but the Court shall not refuse to make a winding‐up order on the ground only that the company's assets have been mortgaged to an amount equal to or in excess of those assets, or that the company has no assets.
(2) If the petition is presented by members of the company as contributories on the ground that it is just and equitable that the company should be wound up, the High Court, if it is of the opinion—
(a)that the petitioners are entitled to relief either by winding up the company or by some other means, and
(b)that in the absence of any other remedy it would be just and equitable that the company should be wound up,
shall make a winding‐up order; but this does not apply if the Court is also of the opinion both that some other remedy is available to the petitioners and that they are acting unreasonably in seeking to have the company wound up instead of pursuing that other remedy.
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