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Amendment of section 558ZX of Principal Act
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48. Section 558ZX of the Principal Act is amended—
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(a) by the insertion of the following subsection after subsection (1):
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“(1A) Where the directors of the eligible company do not pass a resolution appointing a new process adviser they shall, as soon as practicable and in any case not later than 7 days after becoming aware of the process adviser ceasing to act, deliver a notice in the prescribed form confirming that they have not passed such a resolution to—
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(a) the Registrar, and
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(b) the office of the relevant court.”,
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(b) in subsection (2)(a), by the substitution of “notice of the appointment in the prescribed form” for “notice of the appointment”, and
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(c) by the insertion of the following subsection after subsection (9):
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“(10) A person who fails to comply with a requirement imposed by subsection (1), (1A) or (2) shall be guilty of a category 3 offence.”.
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