Section 254 — Companies Act 1993: Liquidator not required to act in certain cases

254 Liquidator not required to act in certain cases Notwithstanding any other provisions of this Part of this Act,— (a) Except where the charge is surrendered or taken to be surrendered or redeemed under section 305 of this Act, a liquidator may, but is not required to, carry out any duty or exercise any power in relation to property that is subject to a charge: (b) Where— (i) A company is put into liquidation under section 241(2)(c) of this Act; and (ii) The Official Assignee is the liquidator of the company; and (iii) The company has no assets available for distribution to creditors of the company,— the Official Assignee shall not be required, without the consent of the Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act, to carry out any duty or exercise any power in connection with the liquidation if, to do so, would or would be likely to involve incurring any expense. Paragraph (b) was amended, as from 1 October 1995, by section 10(3) Department of Justice (Restructuring) Act 1995 (1995 No 39) by substituting the words “ Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act ” for the words “ Minister of Justice ” .