I know - VAs should really self-regulate under their constitution and the common law is broad enough to cover them, but the YL etc ... are always insolvent
I am very anxious about the "forthcoming" Insolvency Act
Speaking glibly companies are a different animal but in terms of the idea of personality a VA is not a natural person is it is imperative that liquidation must be a winding up rather than a surrendering of the estate and sequestration. Insolvency should be the "death" of an association
Actually the best place to cover VA winding up should probably be in the legislation for Co-Ops
I am assuming by this statement that there are aspects to the Act which are quite onerous?