{
  "url": "https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026/section-42",
  "json_url": "https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026/section-42.json",
  "legislation": "nia/2026/6",
  "legislation_title": "Insolvency (Amendment) Act (Northern Ireland) 2026",
  "legislation_url": "https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026",
  "path": "section/42",
  "kind": "section",
  "number": "42",
  "heading": "Liquidation committee",
  "text": "In Article 120 (liquidation committee), for paragraphs (1) to (3) substitute—\n“(1) This Article applies where a winding up order has been made.\n(2) If—\n(a) the company’s creditors decide that a liquidation committee should be established, and\n(b) the company’s contributories also so decide,\na liquidation committee is to be established in accordance with the rules.\n(3) If only the company’s creditors, or only the company’s contributories, decide that a liquidation committee should be established, a liquidation committee is to be established in accordance with the rules unless the court decides otherwise.\n(3A) A “liquidation committee” is a committee having such functions as are conferred on it by or under this Order.\n(3B) The liquidator must seek a decision from the company’s creditors and contributories as to whether a liquidation committee should be established if requested, in accordance with the rules, to do so by one-tenth in value of the company’s creditors.\n(3C) Paragraph (3B) does not apply where the liquidator is the official receiver.”.",
  "extent": "N.I.",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 42 not in operation at Royal Assent, see s. 120(02)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nia/2026/6/section/42",
    "retrieved_at": "2026-10-29T20:18:58.712686+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}