Article 140 - Resignation

(1) The officeholder may give notice of his resignation on grounds of ill health or because:
(A) he intends ceasing to be in practice as an insolvency practitioner or to be registered as an insolvency practitioner under these Regulations; or
(B) there is some conflict of interest, or change of personal circumstances, which precludes or makes impracticable the further discharge by him of his duties as officeholder.
(2) The officeholder may, with the leave of the QFC Court, give notice of his resignation on grounds other than those specified in Article 140(1).
(3) The officeholder must give to the persons specified below at least seven days' notice of his intention to resign, or to apply for the QFC Court's leave to do so:
(A) if there is a continuing officeholder of the Company, to him;
(B) if there is no such officeholder, to the Creditors' Committee; and
(C) if there is no such officeholder and no Creditors' Committee, to the Company and its creditors.