Insolvency Act · 2022 Revised Edition · Part 10
230. Appointment of Executive Manager
Official textFrom Attorney General's Chambers, unchanged
The Minister may, if he considers it expedient in the public interest, appoint any person to be the Executive Manager of any company.
The Executive Manager shall be appointed for such initial period
Executive Manager
“Executive Manager” means a person appointed as such under section 230(1);
(not to exceed 6 months) as the Minister may specify on making such appointment.
The Minister may extend the appointment of the Executive
Manager for such period or periods as he thinks fit.
The Minister may —
remove the Executive Manager;
appoint another person in addition to or in place of the existing Executive Manager; or
make such provision as he thinks fit for the remuneration and indemnification of the Executive Manager.
If the appointment by the Minister has the effect that the office of
Executive Manager is to be held by more than one person, the appointment shall declare whether any act required or authorised to be done by the
Executive Manager is to be done by all or any one of the persons for the time being holding the office of Executive Manager.
Insolvency 186
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Executive Manager
Defined · s 3“Executive Manager” means a person appointed as such under section 230(1);
insolvency
Defined · s 3“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;