• PART 9: PART 9: INSOLVENCY PRACTITIONERS

    • 289. Restrictions on service as liquidator, administrative receiver, administrator, administrator of a Deed of Company Arrangement or receiver

      (1) No person may be appointed as or serve as a receiver, an administrative receiver, an administrator, a liquidator or provisional liquidator of a Company or an administrator of a Deed of Company Arrangement under these Regulations or any other Abu Dhabi Global Market legislation unless he is licensed as an insolvency practitioner under the Commercial Licensing Regulations 2015.
      (2) Without limiting the generality of subsection (1), no insolvency practitioner may be appointed by the Court as —
      (a) liquidator under Section 207 (Notice of winding-up order); or
      (b) provisional liquidator under Section 210 (Appointment of provisional liquidator or of liquidator following administration),
      unless he is further registered with the Court and the Registrar as an official liquidator under this Part 9 (Insolvency Practitioners).
      (3) The registration of an insolvency practitioner as an official liquidator constitutes an acknowledgement of that insolvency practitioner that he will accept any appointment made by the Court as a liquidator or provisional liquidator to a Company in accordance with the provisions of any rules of procedure as may be made by the Court.

    • 290. Qualification and registration of insolvency practitioners

      (1) In these Regulations, unless expressed otherwise, a reference to —
      (a) an "insolvency practitioner" is a reference to an insolvency practitioner who is licensed under the Commercial Licensing Regulations 2015; and
      (b) an "official liquidator" is a reference to an official liquidator who is registered under these Regulations.
      (2) The Registrar may in his absolute discretion refuse to grant an application for registration of a person as an official liquidator.
      (3) The Registrar may cancel the registration of an official liquidator on that person's request or as otherwise provided under these Regulations.

    • 291. Register of insolvency practitioners and official liquidators

      (1) The Registrar shall publish and maintain registers of current and past registrations of insolvency practitioners and official liquidators licensed under the Commercial Licensing Regulations 2015.
      (2) The Registrar shall make a reasonably current version of any registers maintained under this Section freely available for viewing by the public during the normal business hours of the Registrar.

    • 292. Obligation of disclosure to the Registrar

      (1) Subject to subsection (2), an insolvency practitioner appointed to a Company or to a Deed of Company Arrangement shall disclose to the Registrar any matter which reasonably tends to show one of the following —
      (a) a breach, or likely breach of a provision of these Regulations or other legislation administered by the Registrar; or
      (b) a failure, or likely failure, to comply with any obligation to which a person is subject under such legislation,
      which may be attributable to the conduct of the relevant Company or of its officers, employees or agents.
      (2) Subsection (1) shall not apply to the extent that compliance with such requirement would disclose a Privileged Communication.
      (3) Any provision in an agreement between a Company and an officer, employee, agent or insolvency practitioner is void in so far as it purports to hinder any person from causing or assisting a Company to comply with an obligation under subsection (1).
      (4) No person shall be subjected to detriment or loss or damage merely by reason of undertaking any act to cause or assist an insolvency practitioner to comply with an obligation under subsection (1).
      (5) A Court may, on application of an aggrieved person, make any order for relief where the person has been subjected to any such detriment or loss or damage referred to in subsection (1).
      (6) Without limiting the application of any other provision of these Regulations, an insolvency practitioner does not contravene any duty to which he is subject merely because he gives to the Registrar —
      (a) a notification as required under this Section; or
      (b) any other information or opinion in relation to any such matter,
      if the insolvency practitioner is acting in good faith and reasonably believes that the notification, information or opinion is relevant to any functions of the Registrar.

    • 293. Supervision of insolvency practitioners

      (1) Without prejudice to the provisions of the Commercial Licensing Regulations 2015 —
      (a) any cancellation or suspension of the licensing of a person as an insolvency practitioner is deemed to constitute a cancellation or suspension of any registration of the person as an official liquidator; and
      (b) the imposition of any condition or restriction on the future conduct of an insolvency practitioner is deemed, as the context may permit, to constitute the imposition of such a condition or restriction on the future conduct of the insolvency practitioner acting in his capacity as an official liquidator.
      (2) Nothing in this Section affects the powers that any person or the Court may have apart from this Section.