222 Cessation of directors’ powers

On the appointment of a liquidator, all the powers of the directors cease, except so far as the liquidation committee (or, if there is no such committee, the creditors) sanction their continuance1. In the rare event of a resolution having been passed by the company for voluntary winding up but no liquidator having been appointed, the powers of the directors may only be exercised with the sanction of the court or only so far as may be necessary to secure compliance with the provisions of the Insolvency Act 1986 Sections 99 and100(1B)

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