Committee of Inspection

Part 11 – Winding Up

This is a very small section of the Act. There is one new element: the liquidator in a court-ordered winding up may summon a meeting of the creditors to determine whether or not to appoint a committee of inspection (Section 666).

In a creditors’ voluntary winding up, the creditors may appoint a committee of inspection without having to go to Court (Section 667).

How the committee of inspection should be composed is set out in Section 668.