Companies Act 2014 section 532

General provisions as to examiners β€” resignation, filling of vacancy, etc.

Section 532 sets out general procedural and technical rules governing examiners, including their resignation, removal, replacement, formal title, validity of their actions, personal liability on contracts, and the right of parties to seek court guidance on an examiner's performance.

  • An examiner may resign or be removed by the court for cause, and any vacancy can be filled by the court on application by a creditors' committee, the company, or any interested party.
  • An examiner must be referred to by the title "the examiner" of the particular company, not by personal name, and their acts remain valid even if defects in their appointment or qualification are later discovered.
  • An examiner is personally liable on contracts entered into in performing their functions unless the contract expressly excludes such liability, and the examiner is entitled to an indemnity from the company's assets in respect of that personal liability.
  • The company or any interested party may apply to the court for determination of any question arising from the examiner's performance of their functions.

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