Conflict of interest: prohibition on liquidators and advisory members purchasing company assets without tribunal leave.

Company Liquidator and advisory committee members are barred from directly or indirectly purchasing company assets while acting in a winding up, including purchases by intermediaries or relatives; such purchases are permitted only with the leave of the Tribunal. Purchases contrary to this prohibition may be set aside by the Tribunal on application by the liquidator, a creditor, or a contributory, and the Tribunal may order costs as it deems fit.

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