Section 5(3)

Subject as follows, if the company is being wound up or is in administration, the court may do one or both of the following, namely— by order stay or sist all proceedings in the winding up or provide for the appointment of the administrator to cease to have effect; give such directions with respect to the conduct of the winding up or the administration as it thinks appropriate for facilitating the implementation of the ... voluntary arrangement.

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Source: legislation.gov.uk · retrieved 2026-09-04