PART 7WINDING UP BY THE COURT
CHAPTER 12Special manager
Termination of appointment7.97
1
The special manager’s appointment terminates—
a
if the winding-up petition is dismissed; or
b
in a case where a provisional liquidator was appointed under section 135, if the appointment is discharged without a winding-up order having been made.
2
If the liquidator is of the opinion that the employment of the special manager is no longer necessary or beneficial for the company, the liquidator must apply to the court for directions, and the court may order the special manager’s appointment to be terminated.
3
The liquidator must make the same application if the creditors decide that the appointment should be terminated.