# Insolvency (Amendment) Act (Northern Ireland) 2026, Section 42: Liquidation committee

Extent: N.I.
Status: prospective

In Article 120 (liquidation committee), for paragraphs (1) to (3) substitute—
“(1) This Article applies where a winding up order has been made.
(2) If—
(a) the company’s creditors decide that a liquidation committee should be established, and
(b) the company’s contributories also so decide,
a liquidation committee is to be established in accordance with the rules.
(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.
(3A) A “liquidation committee” is a committee having such functions as are conferred on it by or under this Order.
(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.
(3C) Paragraph (3B) does not apply where the liquidator is the official receiver.”.

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Source: https://www.legislation.gov.uk/nia/2026/6/section/42 (the official version)
Page: https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026/section-42
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.