Companies Act 2014 section 559

Interpretation (Part 11)

Section 559 sets out the key definitions and interpretive rules that apply throughout Part 11, which deals with the winding up of companies.

• A "connected person" includes directors, shadow directors, persons connected with directors, related companies, and any trustee, surety, or guarantor for debts owed to any of these individuals or entities.
• A "contributory" is anyone liable to contribute to a company's assets on winding up, and for procedural purposes this also includes anyone merely alleged to be a contributory.
• "Property" is broadly defined to include all real and personal property plus any statutory rights of action available to the company or liquidator under the Act or any other legislation.
• References to "liquidator" in provisions that can apply before a winding-up order is made are to be read as including a provisional liquidator, unless the provision expressly states otherwise.

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