| Commentary

42 Proposal by administrator or liquidator

| Commentary

42 Proposal by administrator or liquidator

Where the proposal is not made by the directors, but by an administrator or liquidator, the role of the directors and of the nominee are filled by the administrator or liquidator as appropriate1, assuming that, as will almost invariably be the case, they intend to be appointed nominee (and later supervisor). Separate provision is made for the case where the administrator or liquidator does not intend to go on to be the nominee. In that case he still fulfils the role of the directors2.

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