Rule 17.3

(1)

A committee in an administration, administrative receivership or a bankruptcy must have at least three members but not more than five members.

(2)

A liquidation committee in a creditors' voluntary winding up appointed pursuant to section 101 M1 must have at least three members.

(3)

A liquidation committee in a winding up by the court established under section 141 M2 must have—

(a)

at least three and not more than five members elected by the creditors; and

(b)

where the grounds on which the company was wound up do not include inability to pay its debts, and where the contributories so decide, up to three contributory members elected by the contributories.

Annotations

Marginal citations

M1: In section 101 subsection (1) was substituted by paragraph 25(2) of Schedule 9 to the Small Business, Enterprise and Employment Act 2015 (c.26) and subsection (3) was amended by paragraph 25(3) of that Schedule.
M2: In section 141 subsections (1) to (3C) were substituted by paragraph 36 of Schedule 9 to the Small Business, Enterprise and Employment Act 2015 (c.26).