Companies Act 2014 section 573

Appointment of provisional liquidator

Section 573 deals with the court's power to appoint a provisional liquidator after a winding-up petition has been presented, and sets out the obligation on the provisional liquidator to inform employees and their representatives of key matters.

• The court may appoint a provisional liquidator at any time after a winding-up petition is presented and before a permanent liquidator is first appointed.
• The provisional liquidator must inform each employee and, where applicable, employees' representatives of the appointment, including the date, within a court-specified timeframe.
• The provisional liquidator must explain the winding-up process as it affects employees and advise that employees and their representatives may provide relevant information.
• The provisional liquidator must also communicate any other matters they consider relevant to the situation.