# Insolvency (Amendment) Act (Northern Ireland) 2026, Section 27: Effect of company’s insolvency

Extent: N.I.
Status: prospective

(1) Article 81 (effect of company’s insolvency) is amended as follows.
(2) After paragraph (1) insert—
“(1A) The liquidator must before the end of the period of 7 days beginning with the day after the day on which the liquidator formed that opinion—
(a) make out a statement in the prescribed form as to the affairs of the company, and
(b) send it to the company’s creditors.”.
(3) Omit paragraphs (2), (3), (5) and (6).
(4) After paragraph (4) insert—
“(4A) The company’s creditors may in accordance with the rules nominate a person to be the liquidator in a creditors’ voluntary winding up of the company (see Article 82).
(4B) The liquidator in the members’ voluntary winding up must in accordance with the rules seek such a nomination from the company’s creditors.”.
(5) In paragraph (7), for the words from “contravenes this Article” to the end substitute
fails to—
(a) make out and send the statement required by paragraphs (1A) and (4), or
(b) verify the statement by affidavit as required by paragraph (4),
the liquidator is guilty of an offence..

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Source: https://www.legislation.gov.uk/nia/2026/6/section/27 (the official version)
Page: https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026/section-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.