Companies Act 2014
Duty of liquidator to call meeting at end of each year | ||
680. (1) If a members' voluntary winding up continues for more than 12 months, then after— | ||
(a) the first anniversary of the commencement of the winding up, and | ||
(b) each subsequent anniversary of that commencement (and the winding up is continuing), | ||
the liquidator has the following duty. | ||
(2) That duty of the liquidator is to— | ||
(a) summon, giving 7 days' notice thereof, the holding of a general meeting of the company for a day falling not later than 28 days after the anniversary concerned, and | ||
(b) lay before that meeting an account of his or her acts and dealings and of the conduct of the winding up during the preceding year. | ||
(3) The liquidator shall, within 7 days after the date of such meeting, send a copy of the foregoing account to the Registrar. | ||
(4) If a winding up by the court or a creditors' voluntary winding up continues for more than 12 months, then after— | ||
(a) the first anniversary of the commencement of the winding up, and | ||
(b) each subsequent anniversary of that commencement (and the winding up is continuing), | ||
the liquidator has the following duty. | ||
(5) That duty of the liquidator is to— | ||
(a) summon, giving 7 days' notice thereof, the holding of— | ||
(i) if a committee of inspection has been appointed, a meeting of the committee of inspection, or | ||
(ii) if no committee of inspection has been appointed, a meeting of the creditors of the company, | ||
for a day falling not later than 28 days after the anniversary concerned, and | ||
(b) lay before that meeting an account of his or her acts and dealings and of the conduct of the winding up during the preceding year. | ||
(6) The liquidator shall, within 7 days after the date of such meeting, send a copy of the foregoing account to the Registrar. | ||
(7) Where a meeting of the committee of inspection is held pursuant to subsection (5)(a), that committee may, by resolution, direct the liquidator to convene a meeting of the creditors of the company and, where such a direction is so given, the liquidator shall cause such meeting to be convened and held no later than 21 days after the date of such resolution. | ||
(8) Where section 584 has effect, subsections (4) to (6) shall apply to the winding up to the exclusion of subsections (1) to (3), as if the winding up were a creditors' voluntary winding up and not a members' voluntary winding up. | ||
(9) If the liquidator fails to comply with any provision of this section, or a direction under it, he or she shall be guilty of a category 3 offence. |