Small Business, Enterprise and Employment Act 2015 (c. 26)

SCHEDULES

SCHEDULE 9 Abolition of requirements to hold meetings; opted-out creditors

PART 1 Company insolvency

Winding-up

32 (1) Section 137 (appointment by Secretary of State) is amended as follows.

(2) In subsection (2)—

(a) for “meetings are held” substitute “nominations are sought from the company’s creditors and contributories”;

(b) omit “of those meetings”.

(3) In subsection (5), for the words from “shall” to the end substitute “must explain the procedure for establishing a liquidation committee under section 141.”