Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 July 2015 - onwards
  Version 2 of 2    

Regulation 59 General temporary administrator provisions.

(1) The temporary administrator shall exercise his or her functions in accordance with national law (including under any enactment or rule of law).

(2) Subject to this Chapter, the appointment of a temporary administrator shall not prejudice the rights of the shareholders in accordance with Union or national law (including under any enactment or rule of law).

(3) A temporary administrator appointed pursuant to this Chapter shall not be considered, or taken, to be a shadow director or a de facto director.

(4) A person appointed as temporary administrator under this Chapter shall not be liable for damages for anything done or omitted in the performance or purported performance or exercise of any of his or her functions, unless it is proved that the act or omission was in bad faith.

Comparing proposed amendment...