Moved by
Lord Popat
61E: Schedule 9, page 242, line 19, at end insert—
“(4) After subsection (4A) insert—
“(4B) The company’s creditors may in accordance with the rules nominate a person to be liquidator.
(4C) The liquidator must in accordance with the rules seek such a nomination from the company’s creditors.”
(5) In subsection (8), for “this section” substitute “subsections (1) to (4A)”.”
61F: Schedule 9, page 242, line 20, leave out paragraph 18 and insert—
“18 (1) For section 96 (conversion to creditors’ voluntary winding up) substitute—
“96 Conversion to creditors’ voluntary winding up
(1) The winding up becomes a creditors’ voluntary winding up as from the day on which—
(a) the company’s creditors under section 95 nominate a person to be liquidator, or
(b) the procedure by which the company’s creditors were to have made such a nomination concludes without a nomination having been made.
(2) As from that day this Act has effect as if the directors’ declaration under section 89 had not been made.
(3) The liquidator in the creditors’ voluntary winding up is to be the person nominated by the company’s creditors under section 95 or, where no person has been so nominated, the existing liquidator.
(4) In the case of the creditors nominating a person other than the existing liquidator any director, member or creditor of the company may, within 7 days after the date on which the nomination was made by the creditors, apply to the court for an order either—
(a) directing that the existing liquidator is to be liquidator instead of or jointly with the person nominated by the creditors, or
(b) appointing some other person to be liquidator instead of the person nominated by the creditors.
(5) The “existing liquidator” is the person who is liquidator immediately before the winding up becomes a creditors’ voluntary winding up.”
(2) In section 96 (as inserted by sub-paragraph (1)), after subsection (4) insert—
“(4A) The court shall grant an application under subsection (4) made by the holder of a qualifying floating charge in respect of the company’s property (within the meaning of paragraph 14 of Schedule B1) unless the court thinks it right to refuse the application because of the particular circumstances of the case.””
61G: Schedule 9, page 242, line 28, leave out from “for” to end of line 29 and insert ““98 and 99” substitute “99 and 100”.”
61H: Schedule 9, page 243, line 1, leave out paragraph 22 and insert—
“22 For section 100(1) (appointment of liquidator) substitute—
“(1) The company may nominate a person to be liquidator at the company meeting at which the resolution for voluntary winding up is passed.
(1A) The company’s creditors may in accordance with the rules nominate a person to be liquidator.
(1B) The directors of the company must in accordance with the rules seek such a nomination from the company’s creditors.””
61J: Schedule 9, page 244, line 35, leave out “Section 105” and insert “In section 105(4)”
61K: Schedule 9, page 244, line 36, leave out from “(Scotland))” to “for” in line 38
61L: Schedule 9, page 245, line 29, leave out “100(6)” and insert “100(1B)”