SCHEDULES
SCHEDULE 9Abolition of requirements to hold meetings; opted-out creditors
PART 1Company insolvency
Winding-up
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(1)
Section 166 (liquidator's powers and duties in creditors' voluntary winding up) is amended as follows.
(2)
In subsection (2), for the words from “during” to the end substitute
“before—
(a)
the company's creditors under section 100 nominate a person to be liquidator, or
(b)
the procedure by which the company's creditors were to have made such a nomination concludes without a nomination having been made.”
(3)
Omit subsection (4).
(4)
In subsection (5), for the words from the beginning to the end of paragraph (b) substitute
“If the directors fail to comply with—
(a)
section 99(1), (2) or (2A), or
(b)
section 100(1B),”.