COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 263 Meeting of creditors.

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 263

Meeting of creditors.

263.(1) The company shall cause a meeting of the creditors of the company to
be summoned for the day, or the day next following the day, on which there is
to be held the meeting at which the resolution for voluntary winding up is to
be proposed, and shall cause the notices of the said meeting of creditors to
be sent by post to the creditors simultaneously with the sending of the
notices of the said meeting of the company.

(2) The company shall cause notice of the meeting of the creditors to be
advertised once in the Belfast Gazette and once at least in two local
newspapers circulating in the district where the registered office or
principal place of business of the company is situate.

(3) The directors of the company shall

(a)cause a full statement of the position of the company's affairs together
with a list of the creditors of the company and the estimated amount of their
claims to be laid before the meeting of the creditors to be held as aforesaid;
and

(b)appoint one of their number to preside at the said meeting.

(4) It shall be the duty of the director appointed to preside at the meeting
of creditors to attend the meeting and preside thereat.

(5) If the meeting of the company at which the resolution for voluntary
winding up is to be proposed is adjourned and the resolution is passed at an
adjourned meeting, any resolution passed at the meeting of the creditors held
in pursuance of sub-section (1) shall have effect as if it had been passed
immediately after the passing of the resolution for winding up the company.

(6) If default is made

(a)by the company in complying with sub-sections (1) and (2);

(b)by the directors of the company in complying with sub-section (3);

(c)by any director of the company in complying with sub-section (4);

Appointment of liquidator.

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 263