On the appointment of a liquidator, all the powers of the directors cease, except so far as the liquidation committee (or, if there is no such committee, the creditors) sanction their continuance.
Section 103: Cesser of directors' powers.
Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk
Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter IV: Creditors' Voluntary Winding Up
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