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Section 203: Consequence of notice under s. 202.

Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk

Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter IX: Dissolution of Companies After Winding Up

Where a notice has been given under section 202(3), the official receiver or any creditor or contributory of the company, or the administrative receiver of the company (if there is one) may apply to the Secretary of State for directions under this section.

The grounds on which that application may be made are—

that the realisable assets of the company are sufficient to cover the expenses of the winding up;
that the affairs of the company do require further investigation; or
that for any other reason the early dissolution of the company is inappropriate.

Directions under this section—

are directions making such provision as the Secretary of State thinks fit for enabling the winding up of the company to proceed as if no notice had been given under section 202(3), and
may, in the case of an application under section 202(8) , include a direction deferring the date at which the dissolution of the company is to take effect for such period as the Secretary of State thinks fit.

An appeal to the court lies from any decision of the Secretary of State on an application for directions under this section.

It is the duty of the person on whose application any directions are given under this section, or in whose favour an appeal with respect to an application for such directions is determined, within 7 days after the giving of the directions or the determination of the appeal, to deliver to the registrar of companies for registration such a copy of the directions or determination as is prescribed.

If a person without reasonable excuse fails to deliver a copy as required by subsection (5), he is liable to a fine and, for continued contravention, to a daily default fine.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.