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Commonhold and Leasehold Reform Act 2002

Winding up of a commonhold association

19.The detailed rules governing the winding up of a commonhold association will be contained in Regulations, though the scheme is set out substantially in the Act.  The Regulations will require that the commonhold community statement sets out the rules governing the distribution of any profit arising on a voluntary winding up and other matters relating to the process.  The winding up of an insolvent commonhold association will be carried out, so far as possible, under the standard insolvency rules.  Any deviation from those Rules will be laid down in Regulations.

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