This section applies where a termination application has been made in respect of particular commonhold land.
The liquidator shall notify the Registrar of his appointment.
In the case of a termination application made under section 44 the liquidator shall either—
notify the Registrar that the liquidator is content with the termination statement submitted with the termination application, or
apply to the court under section 112 of the Insolvency Act 1986 (c. 45) to determine the terms of the termination statement.
The liquidator shall send to the Registrar a copy of a determination made by virtue of subsection (3)(b).
Subsection (4) is in addition to any requirement under section 112(3) of the Insolvency Act 1986.
A duty imposed on the liquidator by this section is to be performed as soon as possible.
In this section a reference to the liquidator is a reference—
to the person who is appointed as liquidator under section 91 of the Insolvency Act 1986, or
in the case of a members' voluntary winding up which becomes a creditors' voluntary winding up by virtue of sections 95 and 96 of that Act, to the person acting as liquidator in accordance with section 100 of that Act.