Article 29 General duties

Northern Ireland

(1)

The administrator of a company shall, on his appointment, take into his custody or under his control all the property to which the company is or appears to be entitled.

(2)

The administrator shall manage the affairs, business and property of the company—

(a)

at any time before proposals have been approved (with or without modifications) under Article 36, in accordance with any directions given by the High Court, and

(b)

at any time after proposals have been so approved, in accordance with those proposals as revised, whether by him or a predecessor of his.

(3)

The administrator shall summon a meeting of the company's creditors if—

(a)

he is requested, in accordance with the rules, to do so by one‐tenth, in value, of the company's creditors, or

(b)

he is directed to do so by the High Court.

Notes on Part III

Textual amendments

F1: Pt. III art. 21 substituted (27.3.2006) for Pt. III arts. 21 - 39 by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(1) (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22 arts. 2 - 7); specified substituted provisions amended (1.10.2009) by S.I. 2009/1941, arts. 2(1), 8, Sch. 1 para. 109 (with art. 10); and by S.I. 2009/1972, regs. 4(d)(iii), 7(b)
F2: mod. by S.I. 2005/1644
F3: Pts. I-V modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 3, Sch. 2)

Modifications

C1: Pts. 1-5 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1A para. 3 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 1)