- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
3.—(1) In section 95 (effect of company’s insolvency)—
(a)in subsection (2) for “The liquidator” substitute “In the case of the winding up of a company registered in Scotland, the liquidator”; and
(b)after subsection (2) insert—
“(2A) In the case of the winding up of a company registered in England and Wales, the liquidator—
(a)shall summon a meeting of creditors for a day not later than the 28th day after the day on which he formed that opinion;
(b)shall send notices of the creditors’ meeting to the creditors by post not less than 7 days before the day on which that meeting is to be held;
(c)shall cause notice of the creditors’ meeting to be advertised once in the Gazette;
(d)may cause notice of the meeting to be advertised in such other manner as he thinks fit; and
(e)shall during the period before the day on which the creditors’ meeting is to be held, furnish creditors free of charge with such information concerning the affairs of the company as they may reasonably require;
and the notice of the creditors’ meeting shall state the duty imposed by paragraph (e) above.”.
(2) In section 98 (meeting of creditors)—
(a)in subsection (1) for “The company” substitute “In the case of the winding up of a company registered in Scotland, the company”;
(b)after subsection (1) insert—
“(1A) In the case of the winding up of a company registered in England and Wales, the company—
(a)shall cause a meeting of its creditors to be summoned for a day not later than the 14th day after the day on which there is to be held the company meeting at which the resolution for voluntary winding up is to be proposed;
(b)shall cause the notices of the creditors’ meeting to be sent by post to the creditors not less than 7 days before the day on which that meeting is to be held;
(c)shall cause notice of the creditors’ meeting to be advertised once in the Gazette; and
(d)may cause notice of the meeting to be advertised in such other manner as the directors think fit.”; and
(c)in subsection (6) after “subsection (1)” insert “, (1A)”.
(3) In section 166 (creditors’ voluntary winding up), in subsection (5)(a) after “subsection (1)” insert “, (1A)”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Click 'View More' or select 'More Resources' tab for additional information including: