ADVOKS GLOBAL · KENYA
Insolvency Act
443. General functions of liquidator when company is liquidated by the Court
Edition: 2022-12-31 · In force
443. General functions of liquidator when company is liquidated by the Court
(1)The functions of the liquidator of a company that is being liquidated by the Court are—(a)to ensure that the assets of the company are realised and distributed to the company's creditors; and(b)if there is a surplus, to distribute the surplus to the persons entitled to it.(2)If the liquidator of a company that is being liquidated is not the Official Receiver, the liquidator shall—(a)provide the Official Receiver with such information;(b)produce to the Official Receiver, and permit inspection by the Official Receiver of, such records and other documents; and(c)give to the Official Receiver such other assistance,as the Official Receiver may reasonably require for the purposes of performing the Official Receiver's functions in relation to the liquidation.(3)A liquidator who, without reasonable excuse, fails to comply with a requirement made by the Official Receiver under subsection (2) commits an offence and on conviction is liable to a fine not exceeding five hundred thousand shillings.