Companies Act 2014 section 558ZW

Resignation of process adviser

Section 558ZW sets out the procedure a process adviser must follow when resigning from their role in a rescue process for a small or micro company, including the required notices and filing obligations.

• A process adviser may resign by giving the company written notice, which takes effect on the date of the notice or a later date specified in it
• The resignation notice must include either a statement that there are no noteworthy circumstances connected with the resignation, or a statement setting out any such circumstances that members or creditors should be aware of
• Within 7 days the process adviser must file a copy of the notice with the Registrar and the relevant court, and where circumstances are disclosed, the company must send a copy to all creditors and members within 14 days
• The court may exempt the company from circulating the notice if it contains material included to secure needless publicity for defamatory matter, and may order the process adviser to pay the company's costs of such an application