Companies Act 2014 section 558G

Duties of directors of eligible company in relation to process adviser

Section 558G sets out the obligations placed on directors of an eligible small or micro company when a process adviser has been appointed as part of a rescue process.

• Directors must take prompt steps to protect employees' interests when notified by the process adviser under section 558F
• Directors are required to cooperate fully with the process adviser throughout the rescue period
• Directors must disclose all relevant information available to them that relates to the process adviser's functions
• These disclosure obligations apply in addition to any other requirements imposed on directors under this Part of the Act