| | Payment of expenses of winding |
| | | |
| | | | | 5 |
| | | | | |
| | | | | |
| | Power to arrest absconding |
| | | |
| | | | | |
| | | Section 159 is not applied - but subsection (5) |
| | 10 |
| | | above makes similar provision. |
| | |
| | | | | |
| | liquidator (England and Wales) |
| | | |
| | | | | |
| | contributories (Scotland) |
| | | 15 |
| | Appeals from orders (Scotland) |
| An appeal may be brought only if the |
| | |
| | | liquidation committee has passed a full |
| | |
| | | | | |
| | General powers of liquidator |
| (a) | An application to the court may not |
| | |
| | | be made under section 167(3) unless |
| | 20 |
| | | the liquidation committee has |
| | |
| | | passed a full payment resolution |
| | |
| | | (although a creditor or contributory |
| | |
| | | may apply to the court with respect |
| | |
| | | to any action (or inaction) of the |
| | 25 |
| | | liquidation committee, under |
| | |
| | | | | |
| | | (b) | In exercising or considering whether |
| | |
| | | to exercise a power under Schedule |
| | |
| | | 4 the bank liquidator shall have |
| | 30 |
| | | regard to Objective 1 in section 93. |
| | |
| | | (c) | A reference to the liquidation |
| | |
| | | committee is to the liquidation |
| | |
| | | committee established by section 94. |
| | |
| | | (d) | The power in paragraph 4 of |
| | 35 |
| | | Schedule 4 includes the power to |
| | |
| | | submit matters to arbitration. |
| | |
| | | Some additional general powers are conferred by |
| | |
| | | | | |
| | | (a) | A direction or request under section |
| | 40 |
| | | 168(2) has no effect unless the |
| | |
| | | liquidation committee has passed a |
| | |
| | | | | |
| | | (b) | Section 168(5) also applies in the |
| | |
| | | case of the imposition of bank |
| | 45 |
| | | insolvency by order of the Court of |
| | |
| | | | | |
| | | (c) | An application to the court may not |
| | |
| | | be made under section 168(5) unless |
| | |
| | | the liquidation committee has |
| | 50 |
| | | passed a full payment resolution |
| | |
| | | (except as provided in section 94 or |
| | |
| | | | | |
| | | (a) | Ignore section 169(1). |
| | |
| | | (b) | Powers of the bank liquidator by |
| | 55 |
| | | virtue of section 169(2) are subject to |
| | |
| | | Objective 1 in section 93 above. |
| | |