S.L. 386.15 Art. 20Directions during winding up.

(1) Without prejudice to the provisions of regulation 19(1), the appointment of a liquidator in respect of a recognised incorporated cell company shall not affect the position of its incorporated cells, subject to any direction to the contrary given during the course of a winding up by:

(a) the court; or

(b) the competent authority.

(2) The competent authority may make an application to the court for the court to give a direction under sub-regulation (1).