Companies Act 1993
Sections and provisions with full text and the judgments that cite each one.
Section 239ABY — Former administrator is default liquidator
239ABY Former administrator is default liquidator In the case of the appointment of a liquidator to a company in administration by the creditors, the former administrator is the liquidator if— (a)…
Section 239ACY — Administrator includes deed administrator
239ACY Administrator includes deed administrator In this subpart, unless the context otherwise requires, administrator includes a deed administrator. Section 239ACY: inserted, on 1 November 2007, by…
Section 239ADY — Deed administrator must give notice of execution of deed of company arrangement
239ADY Deed administrator must give notice of execution of deed of company arrangement As soon as practicable after a deed of company arrangement is executed, the deed administrator must— (a) send to…
Section 239AY — Court may order that pooled property owners are separate class
239AY Court may order that pooled property owners are separate class (1) On the application of the administrator, the Court may order that, for the limited purposes of this section only, pooled…
Section 239Y — Effect on employees
239Y Effect on employees (1) The appointment of an administrator does not automatically terminate an employment agreement to which the company is a party. (2) The administrator is not personally…
Section 239ABZ — Person in control of company must lodge revised report with Registrar
239ABZ Person in control of company must lodge revised report with Registrar (1) This section applies when a liquidator is appointed to a company that is in administration or under a deed of company…
Section 239ACZ — Administrator must file accounts
239ACZ Administrator must file accounts (1) Every administrator must file an account with the Registrar for each of the following periods: (a) the period of 6 months (or shorter, as the administrator…
Section 239ADZ — Deed administrator must give notice of failure to execute deed of company arrangement
239ADZ Deed administrator must give notice of failure to execute deed of company arrangement If a company does not meet the deadline under section 239ACO or 239ACP(1)(c) for the execution of a deed…
Section 239AZ — Adjournment of watershed meeting
239AZ Adjournment of watershed meeting (1) The watershed meeting may be adjourned, but only to a day that is not more than 30 working days after the first day on which the meeting was held. (2)…
Section 239Z — Effect on dealing with company property
239Z Effect on dealing with company property (1) A transaction or dealing by a company in administration, or by a person on behalf of the company, that affects the company's property is void unless…
Section 240 — Interpretation
240 Interpretation (1) In this Act, unless the context otherwise requires,— Creditor means a person who, in a liquidation, would be entitled to claim in accordance with section 303 of this Act that a…
Section 241 — Commencement of liquidation
241 Commencement of liquidation (1) A company may be put into liquidation by the appointment as liquidator of a named person or of an Official Assignee for a named district. (2) A liquidator may be…
Section 241A — Commencement of liquidation to be recorded
241A Commencement of liquidation to be recorded (1) If— (a) A liquidator is appointed under section 241(2)(a) , the shareholders must record in the special resolution appointing the liquidator the…
Section 241AA — Restriction on appointment of liquidator by shareholders or board after application filed for Court appointment
241AA Restriction on appointment of liquidator by shareholders or board after application filed for Court appointment (1) This section applies if an application has been filed for the appointment of…
Section 242 — Liquidators to act jointly unless otherwise stated
242 Liquidators to act jointly unless otherwise stated Where 2 or more persons are appointed as liquidators of a company, those persons must act jointly unless the special resolution of shareholders…
Section 243 — Liquidator to summon meeting of creditors
243 Liquidator to summon meeting of creditors (1) Subject to section 245 of this Act and to subsection (8) of this section, the liquidator of a company must call a meeting of the creditors of the…
Section 244 — Liquidator to summon meeting of creditors in other cases
244 Liquidator to summon meeting of creditors in other cases Subject to section 245 of this Act, the liquidator of a company who was not, by reason of section 243(8) of this Act, required to call a…
Section 245 — Liquidator may dispense with meetings of creditors
245 Liquidator may dispense with meetings of creditors (1) A liquidator is not required to call a meeting of creditors under section 243 or section 244 of this Act, as the case may be, if— (a) The…
Section 245A — Power of Court where outcome of voting at meeting of creditors determined by related entity
245A Power of Court where outcome of voting at meeting of creditors determined by related entity (1) This section applies if the Court is satisfied that— (a) a resolution at a meeting of creditors…
Section 246 — Interim liquidator
246 Interim liquidator (1) If an application has been made to the Court for an order that a company be put into liquidation, the Court may, if it is satisfied that it is necessary or expedient for…
Section 247 — Power to stay or restrain certain proceedings against company
247 Power to stay or restrain certain proceedings against company At any time after the making of an application to the Court under section 241(2)(c) of this Act to appoint a liquidator of a company…
Section 248 — Effect of commencement of liquidation
248 Effect of commencement of liquidation (1) With effect from the commencement of the liquidation of a company,— (a) The liquidator has custody and control of the company's assets: (b) The directors…
Section 249 — Completion of liquidation
249 Completion of liquidation The liquidation of a company is completed when the liquidator— (a) Complies with section 257(1)(b) of this Act; or (b) Delivers to the Registrar for registration— (i) A…
Section 250 — Court may terminate liquidation
250 Court may terminate liquidation (1) The Court may, at any time after the appointment of a liquidator of a company, if it is satisfied that it is just and equitable to do so, make an order…
Section 251 — Restriction on rights of creditors to complete execution, distraint, or attachment
251 Restriction on rights of creditors to complete execution, distraint, or attachment (1) Subject to subsection (3) of this section, a creditor is not entitled to retain the benefit of any execution…
Section 252 — Duties of officer in execution process
252 Duties of officer in execution process (1) Subject to subsection (6) of this section, where— (a) Property of a company is taken in an execution process; and (b) Before completion of the execution…
Section 253 — Principal duty of liquidator
253 Principal duty of liquidator Subject to section 254 of this Act, the principal duty of a liquidator of a company is— (a) To take possession of, protect, realise, and distribute the assets, or the…
Section 254 — 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…
Section 255 — Other duties of liquidator
255 Other duties of liquidator (1) Without limiting section 253 of this Act, a liquidator has the other functions and duties specified in this Act. (2) Without limiting subsection (1) of this…
Section 256 — Duties in relation to accounts
256 Duties in relation to accounts (1) Subject to subsection (2) of this section, the liquidator of a company must— (a) Keep accounts and records of the liquidation and permit those accounts and…
Section 257 — Duties in relation to final report and accounts
257 Duties in relation to final report and accounts (1) As soon as practicable after completing his or her duties in relation to the liquidation, the liquidator of a company must— (a) Prepare and…
Section 258 — Duty to have regard to views of creditors and shareholders
258 Duty to have regard to views of creditors and shareholders (1) The liquidator must have regard to— (a) The views of the shareholders by whom any special resolution was passed at a meeting held…
Section 258A — Duty to notify suspected offences
258A Duty to notify suspected offences (1) A liquidator of a company who considers that an offence that is material to the liquidation has been committed by the company or any director of the company…
Section 259 — Documents to state company in liquidation
259 Documents to state company in liquidation Every document entered into, made, or issued by a liquidator of a company on behalf of the company must state in a prominent position that the company is…
Section 260 — Powers of liquidator
260 Powers of liquidator (1) A liquidator has the powers— (a) Necessary to carry out the functions and duties of a liquidator under this Act; and (b) Conferred on a liquidator by this Act. (2)…
Section 260A — Liquidator may assign right to sue under this Act
260A Liquidator may assign right to sue under this Act (1) The liquidator may, if the Court has first approved it, assign any right to sue that is conferred on the liquidator by this Act. (2) The…
Section 261 — Power to obtain documents and information
261 Power to obtain documents and information (1) A liquidator may, from time to time, by notice in writing, require a director or shareholder of the company or any other person to deliver to the…
Section 262 — Documents in possession of receiver
262 Documents in possession of receiver (1) A receiver is not required to deliver to a liquidator under section 261 of this Act any books, records, or documents that the receiver requires for the…
Section 263 — Restriction on enforcement of lien over documents
263 Restriction on enforcement of lien over documents (1) A person is not entitled, as against the liquidator of a company, to claim or enforce a lien over books, records, or documents of the…
Section 264 — Delivery of document creating charge over property
264 Delivery of document creating charge over property (1) A person is required to deliver a document to a liquidator under section 261 of this Act even though possession of the document creates a…
Section 265 — Examination by liquidator
265 Examination by liquidator (1) A liquidator or a barrister or solicitor acting on behalf of the liquidator may administer an oath to, or take the affirmation of, a person required to be examined…
Section 266 — Powers of Court
266 Powers of Court (1) The Court may, on the application of the liquidator, order a person who has failed to comply with a requirement of the liquidator under section 261 of this Act to comply with…
Section 267 — Self-incrimination
267 Self-incrimination (1) A person is not excused from answering a question in the course of being examined under section 261 or section 266 of this Act on the ground that the answer may incriminate…
Section 268 — Power of liquidator to enforce liability of shareholders and former shareholders
268 Power of liquidator to enforce liability of shareholders and former shareholders (1) The liquidator may— (a) If a shareholder is liable to calls, make calls on the shares held by that…
Section 269 — Power to disclaim onerous property
269 Power to disclaim onerous property (1) Subject to section 270 of this Act, a liquidator may disclaim onerous property even though the liquidator has taken possession of it, tried to sell it, or…
Section 270 — Liquidator may be required to elect whether to disclaim onerous property
270 Liquidator may be required to elect whether to disclaim onerous property If a person whose rights would be affected by the disclaimer of onerous property gives a liquidator notice in writing…
Section 271 — Pooling of assets of related companies
271 Pooling of assets of related companies (1) On the application of the liquidator, or a creditor or shareholder, the Court, if satisfied that it is just and equitable to do so, may order that— (a)…
Section 271A — Notice that application filed must be given to administrators and creditors
271A Notice that application filed must be given to administrators and creditors (1) Unless the Court orders otherwise, an applicant for an order under section 271(1)(b) must give notice that the…
Section 272 — Guidelines for orders
272 Guidelines for orders (1) In deciding whether it is just and equitable to make an order under section 271(1)(a) of this Act, the Court must have regard to the following matters: (a) The extent to…
Section 273 — Certain conduct prohibited
273 Certain conduct prohibited (1) If a company is in liquidation, or an application has been made to the Court for an order that a company be put into liquidation, as the case may be, no person may—…