Central Bank and Credit Institutions (Resolution) Act 2011


Liquidation committee — procedure.

85.— (1) A meeting of the liquidation committee may be summoned by any of the members or by the liquidator.

(2) A meeting of the liquidation committee is quorate only if all the members are present.

(3) A person aggrieved by anything done by the liquidation committee before it has passed a full payment resolution may apply to the Court, which may make any order that it considers appropriate in the circumstances (including an order for the repayment of money).

(4) The Court may (whether on an application under subsection (3), on the application of the liquidator or otherwise) make an order that the liquidation committee is to be treated as having passed a full payment resolution.

(5) If a liquidation committee fails to comply with section 84(3) the liquidator shall apply to the Court for an order under subsection (3) or for directions under section 280 of the Act of 1963.