# Small Business, Enterprise and Employment Act 2015, Section 120: Exercise of powers by liquidator: removal of need for sanction


(1) The Insolvency Act 1986 is amended as follows.
(2) In section 165 (voluntary winding up: powers of liquidator), for subsections (2) and (3) substitute—
“(2) The liquidator may exercise any of the powers specified in Parts 1 to 3 of Schedule 4.”
(3) In section 167 (winding up by the court: powers of liquidator), for subsection (1) substitute—
“(1) Where a company is being wound up by the court, the liquidator may exercise any of the powers specified in Parts 1 to 3 of Schedule 4.”
(4) In section 169 (supplementary powers (Scotland)), omit subsection (1).
(5) In Part 2 of Schedule 3 (appeals from orders in Scotland: orders which take effect until matter disposed of by Inner House), omit the entry relating to orders under section 167 or 169.
(6) In Schedule 4 (powers of liquidator in a winding up)—
(a) in paragraph 3, omit “In the case of a winding up in Scotland,”,
(b) omit paragraph 6A, and
(c) omit the headings for each of Parts 1 to 3.

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Source: https://www.legislation.gov.uk/ukpga/2015/26/section/120 (the official version)
Page: https://openlegislation.uk/small-business-enterprise-and-employment-act-2015/section-120
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.