Insolvency Act · 2022 Revised Edition · Chapter VII
143. Removal etc. in winding up by Court
Official textFrom Attorney General's Chambers, unchanged
This section applies with respect to the removal from office and vacation of office of the liquidator of a company which is being wound up by the Court, or of a provisional liquidator.
company
“company” means a company incorporated or registered under the Companies Act;
Subject as follows, the liquidator may be removed from office only by an order of the Court or by a general meeting of the company’s creditors summoned specially for that purpose in accordance with the rules;
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
and a provisional liquidator may be removed from office only by an order of the Court.
Where —
the Official Receiver is the liquidator otherwise than in succession under section 114(3) to a person who held office as a result of a nomination by a meeting of the company’s creditors or contributories; or
the liquidator was appointed by the Court otherwise than under section 116(4)(a) or 117(1), or was appointed by the Minister, a general meeting of the company’s creditors shall be summoned for the purpose of replacing him only if he thinks fit, or the Court so directs, or the meeting is requested, in accordance with the rules, by not less than one-quarter, in value, of the creditors.
A liquidator appointed by the Minister may be removed from office by a direction of the Minister.
A liquidator or provisional liquidator, not being the Official
Receiver, shall vacate office if he ceases to be a person who is qualified to act as an insolvency practitioner in relation to the company.
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
Insolvency 114
A liquidator may, in the prescribed circumstances, resign his office by giving notice of his resignation to the Court.
Where a final meeting has been held under section 122, the liquidator whose report was considered at the meeting shall vacate office as soon as he has given notice to the Court and Registrar that the meeting has been held and of the decisions (if any) of the meeting.
Release of liquidator
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Court
Defined · s 3“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
insolvency
Defined · s 3“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
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