Meetings of creditors and
contribu
tories
winding up. 8 Edw. 7 c.
69 s. 152.
Liquidator
to give in- formation to official receiver. Ib. a. 153.
Payments of liquidator winding up
into bank. Ib. s. 154.
502
(e) To raise on the security of the assets of the
company any money requisite:
(1) To take out in his official name, letters of administration to any deceased contributory, and to do in his official name any other act necessary for obtaining payment of any money due from a contributory or his estate which cannot be conveniently done in the name of the company ; and in all such eases the money due shall, for the purpose of enabling the liquidator to take out the letters of administration or recover the money, be deemed to be due to the liquidator himself;
(9) To do all such other things as may be necessary for winding up the affairs of the company and distributing its assets.
(3) The exercise by the liquidator in a winding up by the court of the powers conferred by this section shall be subject to the control of the court, and any ereditor or coutri- butory may apply to the court with respect to any exercise or proposed exercise of any of those powers.
(4) Where a liquidator is provisionally appointed by the court, the court may limit and restrict his powers by the order appointing him.
146.—(1) When a winding-up order has been made by the court the official receiver shall summon separate meetings of the creditors and contributories of the company for the purpose of --
(a) determining whether or not an application is to be made to the court for appointing a liquid- ator in the place of the official receiver; and (4) determining whether or not an application is to be made to the court for the appointment of a committee of inspection to act with the liquid- ator, and who are to be the members of the committee if appointed.
(2) The court may make any appointment and order required to give effect to any such determination, and, if there is a difference between the determinations of the meetings of the creditors and contributories in respect of any of the matters mentioned in the foregoing provisions of this section, the court shall decide the difference and make such order thereon as the court may think fit.
(3) In case a liquidator is not appointed by the court the official receiver shall be the liquidator of the company.
147. Where in the winding up of a company by the court a person other than the official receiver is appointed liquidator he shall give the official receiver such informa- tion and such access to and facilities for inspecting the books and documents of the company, and generally such aid as may be requisite for enabling that officer to perform his duties under this Ordinance.
148.-(1) Where in the winding up of a company by the court a person other than the official receiver is appointed liquidator he shall in such manner and at such times as the official receiver with the concurrence of the colonial treasurer may direct, pay the money received by him to the Companies Liquidation Accommt at such bank the colonial treasurer may direct and the official receiver shall furnish him with a certificate of receipt of the money so paid ;
AS
Provided that, if the committee of inspection satisfy the official receiver that for the purpose of carrying on the business of the company or of obtaining advances, or for any other reason, it is for the advantage of the creditors or contributories that the liquidator should have an account with any other bank, the official receiver shall, on the application of the committee of inspection, authorise the liquidator to make his payments into and out of such other bank as the committce may select, and thereupon those payments shall be made in the prescribed manner.
(2) If any such liquidator at any time retains for more than ten days a sum exceeding five hundred dollars, or such other amount as the official receiver in any particular