International Criminal Court Act 2006

Winding up of company holding realisable property.

46.— (1) In this section—

“ company ” means any company which may be wound up under the Companies Acts 1963 to 2005;

“ relevant time ” means—

(a) where no order for the winding up of the company has been made, the time of the passing of the resolution for its voluntary winding up,

(b) where such an order has been made and, before the presentation of the petition for the winding up of the company by the court, such a resolution had been passed by the company, the time of the passing of the resolution, and

(c) in any other case where such an order has been made, the time of the making of the order.

(2) Where realisable property is held by a company and an order for its winding up has been made or a resolution for its voluntary winding up has been passed by it, the functions of the liquidator (or any provisional liquidator) shall not be exercisable in relation to—

(a) property for the time being subject to—

(i) a freezing order which was made before the relevant time, or

(ii) an ICC order which is the subject of an enforcement order made before that time,

(b) any property realised by virtue of such an order for the time being in the hands of a receiver appointed under this Part.

(3) Where an order for the winding up of a company has been made or such a resolution passed, the powers of the High Court or of such a receiver shall not be exercised in relation to any realisable property held by the company concerned—

(a) so as to inhibit the exercise of those powers for the purpose of distributing any property held by the company to the company's creditors, or

(b) so as to prevent the payment out of any property of expenses (including the remuneration of the liquidator or any provisional liquidator) properly incurred in the winding up in respect of the property.