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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 258

Duty of liquidator to call creditors' meeting in case of insolvency.

258.(1) If, in the case of a winding up commenced after the commencement of
this Act, the liquidator is at any time of opinion that the company will not
be able to pay its debts in full within the period stated in the declaration
under section two hundred and fifty-three he shall forthwith summon a meeting
of the creditors, and shall lay before the meeting a statement of the assets
and liabilities of the company.

(2) If the liquidator fails to comply with this section, he shall be liable to
a fine not exceeding fifty pounds.

© 1960 Crown Copyright

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