# Insolvency Act 1986, Section A24: Duty of directors to notify monitor of insolvency proceedings etc


(1) The directors of a company must notify the monitor before taking any of the following steps during a moratorium—
(a) presenting a petition for the winding up of the company;
(b) making an administration application in respect of the company;
(c) appointing an administrator under paragraph 22(2) of Schedule B1.
(2) The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under section 84(1)(b).
(3) The rules may make provision about the timing of a notice required to be given under subsection (1) or (2).
(4) If the directors fail to comply with subsection (1) or (2), any director who did not have a reasonable excuse for the failure commits an offence.

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Source: https://www.legislation.gov.uk/ukpga/1986/45/section/A24 (the official version)
Page: https://openlegislation.uk/insolvency-act-1986/section-A24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.