Insolvency Act 1986, section 92

Power to fill vacancy in office of liquidator

Part IV Winding Up of Companies Registered under the Companies Acts

(1)If a vacancy occurs by death resignation or otherwise in the office of liquidator appointed by the company, the company in general meeting may, subject to any arrangement with its creditors, fill the vacancy.

(2)For that purpose a general meeting may be convened by any contributory or, if there were more liquidators than one, by the continuing liquidators.

(3)The meeting shall be held in manner provided by this Act or by the articles, or in such manner as may, on application by any contributory or by the continuing liquidators, be determined by the court.

Definitions used in section 92 3

the company

2 Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.

Defined in Sch.4ZZA para.2 · see it in the full Act
contributory

(1) In this Act . . . the expression “contributory” means every person liable to contribute to the assets of a company in the event of its being wound up, and for the purposes of all proceedings for determining, and all proceedings prior to the final determination of, the persons who are to be deemed contributories, includes any person alleged to be a contributory.

Defined in s.79(1) · see it in the full Act
articles

“articles”, in relation to a company (see section 18 of the Companies Act 2006 );

Defined in s.436(2) · see it in the full Act

Cases considering section 92 4

Laurence Pagden & Ors v Core VCT PLC & Ors

[2025] EWHC 2316 (Ch) · 10 September 2025Interprets

Interprets the statutory appointment framework as not permitting a company to modify the statutory responsibilities or liability of its liquidators by contract. The provision was considered as part of the statutory-trust analysis. (see paras [16], [70]-[73])

Secretary of State for Business Innovation And Skills v PAG Management Services Ltd

[2015] EWHC 2404 (Ch) · 9 August 2015

Applies the provision permitting a vacancy caused by resignation to be filled by the company in general meeting. The evidence did not show that the scheme necessarily or in practice involved unlawfulness in the appointment process, so this ground did not justify winding up. (see paras [49]-[50])

Fakhry v Pagden & Anor

[2020] EWCA Civ 1207 · 15 September 2020

The court identified the members’ power to fill a vacancy in a members’ voluntary liquidation, while explaining that the court’s appointment power supplements it (see paras [30]-[31]).

What each judgment says about section 92 is in the case-law panel in the full Act.

Amendments and notes

2 notes from legislation.gov.uk

Modifications

  1. C277Ss. 91-93 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1 para. 3 (as amended by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20)
  2. C278Ss. 91-93 applied (with modifications) (S.) (6.4.2001) by S.S.I. 2001/128, reg. 4, Sch. 2