Companies Act 2014 section 669

Power to annul order for winding up or to stay winding up

Section 669 gives the court the power to annul a winding up order entirely or to stay (pause) the winding up proceedings, and sets out the notification requirements and penalties for non-compliance.

• The court may annul a winding up order or stay winding up proceedings on application by the liquidator, a creditor, or a contributory, provided the court is satisfied the order should be annulled or the proceedings stayed.
• When an annulment order is made, the applicant must immediately notify the Registrar in the prescribed form, and a certified copy of any annulment or stay order must be forwarded to the Registrar once the order is perfected.
• The court may give directions on the retention or disposal of the company's seal, books and papers, and may require the liquidator to provide a report on matters relevant to the application.
• Failure to comply with the notification and filing requirements is a category 4 offence, applicable to the applicant, the company and its officers, or any other person directed to comply.