On going into liquidation, the property of the company normally remains vested in the company. But the liquidator may apply to the court for an order to be made vesting the company’s assets in the liquidator (Insolvency Act 1986, s. 145; Insolvency (Northern Ireland) Order 1989 (SI 1989/2405), art. 496). Whether the company’s assets are vested in the company or the liquidator, it is specifically provided that the acts of the liquidator in relation to the assets of the company are treated as the acts of the company and any transfer of assets between the liquidator and the company are disregarded (TCGA 1992, s. 2G).

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