C1Part 1Commonhold

Annotations:

Termination: winding-up by court

54 Termination of commonhold

1

This section applies where the court—

a

makes a winding-up order in respect of a commonhold association, and

b

has not made a succession order in respect of the commonhold association.

2

The liquidator of a commonhold association shall as soon as possible notify the Registrar of—

a

the fact that this section applies,

b

any directions given under section 168 of the Insolvency Act 1986 (c. 45) (liquidator: supplementary powers),

c

any notice given to the court and the registrar of companies in accordance with section 172(8) of that Act (liquidator vacating office after final meeting),

d

any notice given to the Secretary of State under section 174(3) of that Act (completion of winding-up),

e

any application made to the registrar of companies under section 202(2) of that Act (insufficient assets: early dissolution),

f

any notice given to the registrar of companies under section 205(1)(b) of that Act (completion of winding-up), and

g

any other matter which in the liquidator’s opinion is relevant to the Registrar.

3

Notification under subsection (2)(b) to (f) must be accompanied by a copy of the directions, notice or application concerned.

4

The Registrar shall—

a

make such arrangements as appear to him to be appropriate for ensuring that the freehold estate in land in respect of which a commonhold association exercises functions ceases to be registered as a freehold estate in commonhold land as soon as is reasonably practicable after he receives notification under subsection (2)(c) to (f), and

b

take such action as appears to him to be appropriate for the purpose of giving effect to a determination made by the liquidator in the exercise of his functions.