From the 24th day of March 2003 the following procedures and prescribed forms shall apply in respect of restriction applications to the Court under section 150(1) of the Companies Act 1990 for a declaration that one or more directors of an insolvent company which is in voluntary liquidation be restricted.
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S.150 Practice Direction - Forms:
There are 3 Forms referred to in the S.150 Practice Direction.
Form 1 is the Originating Notice of Motion that is to be utilised by liquidators, the Director and receivers as appropriate for applications for declarations pursuant to section 150 in accordance with the practice directions above.
Form 2 is the Grounding Affidavit that is to be utilised by liquidators, the Director and receivers as appropriate to ground applications for declarations pursuant to section 150 in accordance with the practice directions above.
Form 3 is the form of Appearance that must be filed in the High Court by company directors or by solicitors acting on their behalf within 10 days of the service of the papers by the liquidator, the Director or receivers upon the company directors if the company directors if the company directors wish to defend the application.