Section 144: Committee of inspection in voluntary winding up(cid:3)

144. Committee of inspection in voluntary winding up(cid:3) (1) (a) The creditors may, at a meeting summoned pursuant to section 142 or 143 or at any subsequent meeting, if they think fit, appoint a committee of inspection consisting of not more than 5 persons, whether creditors or not.(cid:3) (b) Where a committee of inspection is appointed, the directors may, either at the meeting at which the winding up resolution is passed or at any time subsequently in a general meeting, appoint such number of persons not being more than 5 as it thinks fit to act as members of the committee.(cid:3) I14 – 87 [Issue 9] Insolvency Act (2) The creditors may, if they think fit, resolve that all or any of the persons so appointed by the directors ought not to be members of the committee of inspection and, if the creditors so resolve, the persons mentioned in the resolution shall not, unless the Court otherwise directs, be qualified to act as members of the committee, and on any application to the Court under the subsection the Court may if it thinks fit, appoint other persons to act as such members in place of the persons mentioned in the resolution.(cid:3) (3) A committee appointed under this section shall meet at least once in every year.(cid:3) (4) The Seventh Schedule shall apply to a committee of inspection appointed under this section.(cid:3)