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Section 302: Advice and assistance

Insolvency Act · PART III: WINDING UP AND ALTERNATIVES

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.

302. Advice and assistance Where a notice has been given to a prescribed company or related company under section 297, the Companies Supervisory Committee may itself, or at its request through the Director— (a) give advice and assistance in connection with the negotiation of any sale or other disposition of the capital or business undertaking of that prescribed company or related company; (b) give advice and assistance in connection with any scheme for resolving the difficulties of that company or related company; or (c) appoint an independent advisor to work with the prescribed company or related company or associated person of those companies to address any difficulties of the companies in accordance with any directions or plan of action that may be identified by the Companies Supervisory Committee and to report to the Companies Supervisory Committee.

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