Insolvency Act · 2022 Revised Edition · Chapter I
63. Contributories in case of death of member
Official textFrom Attorney General's Chambers, unchanged
If a contributory dies before or after he has been placed on the list of contributories, his personal representatives are liable in a due course of judicial management to contribute to the assets of the company in discharge of his liability and are contributories accordingly.
Where the personal representatives are placed on the list of contributories, the heirs or legatees of heritage need not be added, but they may be added as and when the Court thinks fit.
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
If the personal representatives make default in paying any money ordered to be paid by them, proceedings may be taken for administering the estate of the deceased contributory and for compelling payment out of it of the money due.
Insolvency
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;
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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Chapter VII
Chapter VIII
Chapter IX
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