Part 1

Commonhold

Termination: voluntary winding-up

100 per cent. agreement
44
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.
Pt. 1: transfer of functions (11.4.2018) by The Secretaries of State for Health and Social Care and for Housing, Communities and Local Government and Transfer of Functions (Commonhold Land) Order 2018 (S.I. 2018/378), arts. 1(2), 11 (with arts. 12-14)