Section 116: Liquidator not required to act in certain cases
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
116. Liquidator not required to act in certain cases
Notwithstanding this Sub-part—
(a) except where a charge is surrendered or taken to be surrendered
under paragraph 9 (1) (c) or 9 (2) of the Second Schedule,
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Insolvency 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; and
(b) where—
(i) a company is wound up by order of the Court; and
(ii) the company has no assets available for distribution to
creditors of the company,
the liquidator shall not be required, without the consent of the Director, to
carry out any duty or exercise any power in connection with the liquidation
where to do so would or would be likely to involve incurring any expense.