Companies Act 2014 section 640

Position when there is more than one liquidator

Section 640 sets out the rules that apply when more than one liquidator is appointed to a winding up, including how their duties and powers are to be divided among them.

• When multiple liquidators are appointed, the court or the meeting making the appointment must specify whether tasks are to be carried out by all of them or by one or more of them.
• This requirement applies regardless of whether the appointment is made by the court, by members, or by creditors.
• If no such determination is made at the time of appointment, any number of the liquidators may carry out the required tasks, but never fewer than two.
• The section ensures clarity from the outset on how joint liquidators are expected to work together in performing their statutory duties.