44 100 per cent. agreementE+W
This section has no associated Explanatory Notes
(1)This section applies where a commonhold association—
(a)has passed a winding-up resolution and a termination-statement resolution with 100 per cent. of the members of the association voting in favour, and
(b)has appointed a liquidator under section 91 of the Insolvency Act 1986 (c. 45).
(2)The liquidator shall make a termination application within the period of six months beginning with the day on which the winding-up resolution is passed.
(3)If the liquidator fails to make a termination application within the period specified in subsection (2) a termination application may be made by—
(a)a unit-holder, or
(b)a person falling within a class prescribed for the purposes of this subsection.