Syllabus G1

Insolvency and Administration 1 / 2

a) Explain the meaning of and procedure involved in voluntary liquidation, including members’ and creditors’ voluntary liquidation.
b) Explain the meaning of, the grounds for, and the procedure involved in compulsory liquidation.
c) Explain the order in which company debts will be paid off on liquidation.
d) Explain administration as a general alternative to liquidation.
e) Explain the way in which of an administrator may be appointed, the effects of such appointment, and the powers and duties an administrator.