Bare ActsThe INSOLVENCY ACT, 1955

Section 71

Committee of Inspection

Amendment status not verified — confirm the current text below against the official source.

Committee of Inspection.—(1) The Court may, if it thinks fit, authorise the creditors who have proved their debts to appoint a committee of inspection for the purpose of superintending the administration of the insolvent’s property by the receiver. (2) The persons appointed to a committee of inspection shall be creditors who have proved their debts or persons holding general powers-of-attorney from such creditors. (3) The committee of inspection shall have such powers of control over the proceedings of the receiver as may be prescribed. Appeal to Court against Receiver

Section 71 – The INSOLVENCY ACT, 1955 | DailyLaw.ai