215. Property of the Company

(1) The liquidator or the provisional liquidator (as the case may be) shall take into his custody or under his control all the property to which the Company is or appears to be entitled.
(2) In these Regulations, "property" includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent arising out of, or incidental to, property but does not include property held by the Company on trust for a person.
(3) The liquidator or provisional liquidator shall take steps to discharge the obligations of the Company with respect to —
(a) client assets and client monies, in accordance with the Financial Market Regulations if the Company is a person authorised pursuant to such Regulations; and
(b) trust property of the Company, in accordance with the terms of the trust.
(4) When a Company is being wound up by the Court, the Court may, on the application of the liquidator, direct that all or any part of the property of whatsoever description belonging to the Company or held by trustees on its behalf shall vest in the liquidator by his official name; and thereupon the property to which the order relates vests accordingly.
(5) Where a creditor has issued execution against the goods or land of a Company or has attached any debt due to it, and the Company is subsequently wound up, he is not entitled to retain the benefit of the execution or attachment against the liquidator unless he has completed the execution or attachment before the commencement of the winding-up.
(6) However —
(a) if a creditor has had notice of a meeting having been called at which a resolution for voluntary winding-up is to be proposed, the date on which he had notice is substituted, for the purpose of subsection (5), for the date of commencement of the winding-up;
(b) a person who purchases in good faith under a sale by the enforcement agent charged with the execution of the writ any goods of a Company on which execution has been levied in all cases acquires a good title to them against the liquidator; and
(c) the rights conferred by subsection (5) on the liquidator may be set aside by the Court in favour of the creditor to such extent and subject to such terms as the Court thinks fit.
(7) For purposes of these Regulations —
(a) an execution against goods is completed by seizure and sale, or by the making of a charging order under Section 95 of the Courts, Civil Evidence, Judgments, Enforcement and Judicial Appointments Regulations 2015;
(b) an attachment of a debt is completed by receipt of the debt; and
(c) an execution against land is completed by seizure, by the appointment of a receiver, or by the making of a charging order under Section 95 of the Courts, Civil Evidence, Judgments, Enforcement and Judicial Appointments Regulations 2015.
(8) In this section —
(a) "goods" includes all chattels personal; and
(b) "enforcement agent" means an individual who is authorised to act as an enforcement agent under the Section 95 of the Courts, Civil Evidence, Judgments, Enforcement and Judicial Appointments Regulations 2015.