Companies Act 2014 section 558ZU

No lien over eligible company's books, records, etc.

Section 558ZU prevents any person from withholding company documents or claiming a lien over them once a process adviser has been appointed for an eligible small or micro company under the rescue process.

• Once a process adviser is appointed, no one may withhold possession of the eligible company's deeds, instruments, accounting records, receipts, bills, invoices, or similar business papers from the process adviser.
• No person may claim a lien — that is, a right to retain documents as security for a debt — over any of those company documents or papers as against the process adviser.
• Where documents have been deposited with someone to create a mortgage, charge, or pledge, handing those documents over to the process adviser does not undermine that person's underlying security rights, except for any right to retain physical possession of the documents.
• If the process adviser holds documents belonging to or examinable by a receiver, the process adviser must make them available for the receiver's inspection at all reasonable times, unless the court directs otherwise.