COMPANIES ACT 1963 - SECT 268 Appointment of committee of inspection.

268.—(1) Subject to subsection (2), the creditors at the meeting to be held in pursuance of section 266 or at any subsequent meeting may, if they think fit, appoint a committee of inspection consisting of not more than five persons, and, if such committee is appointed the company may, either at the meeting at which the resolution for voluntary winding up is passed or at any time subsequently in general meeting, appoint three persons to act as members of the committee, provided that the number of members of the committee shall not at any time exceed eight.

(2) The creditors may, if they think fit, resolve that all or any of the persons so appointed by the company ought not to be members of the committee of inspection, and if the creditors so resolve, the persons mentioned in the resolution shall not, unless the court otherwise directs, be qualified to act as members of the committee, and on any application to the court under this subsection the court may, if it thinks fit, appoint other persons to act as such members in place of the persons mentioned in the resolution.

(3) Subject to subsections (1) and (2), and to rules of court, section 233 (except subsection (1)) shall apply to a committee of inspection appointed under this section as it applies to a committee of inspection appointed in a winding up by the court.

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