Companies Act 2014 section 641

Resignation of liquidator

Section 641 sets out the right of a liquidator to resign from office in any type of winding up and the notification requirements that must be followed upon resignation.

• A liquidator may resign from office in any winding up, whether it is a court winding up, a creditors' voluntary winding up, or a members' voluntary winding up.
• Within 2 days of resigning, the liquidator must notify both the Registrar of Companies and the Corporate Enforcement Authority using the prescribed form.
• Within 14 days of resigning, the liquidator must also notify the court (in a court winding up), and the relevant stakeholders — the committee of inspection, the creditors, or the members — depending on the type of winding up and whether a committee of inspection exists.
• Failure to comply with these notification requirements without a reasonable excuse is a category 3 offence.