ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
or their individual name or names; he or they shall take into his or their custody, or under his or their control, all the property, effects, and things in action to which the company is or appears to be entitled, and shall perform such duties in reference to the winding-up of the company as may be imposed by the Court.
93. (92.) The Official Liquidator shall have power, with the sanction of the Court, to do the following things:
To bring or defend any action, suit, or other legal proceeding, in the name and on behalf of the company:
To carry on the business of the company, so far as may be necessary for the beneficial winding-up of the same:
To sell the real and personal property, effects and things in action of the company by public auction or private contract, with power to transfer the whole thereof to any person or company, or to sell the same in parcels:
To do all acts and to execute, in the name and on behalf of the company, all deeds, receipts, and other documents, and for that purpose to use, when necessary, the company's seal:
To prove, rank, claim, and draw a dividend, in the matter of the bankruptcy of any contributory, for any balance against the estate of such contributory, and to take and receive dividends in respect of such balance, in the matter of bankruptcy, as a separate debt due from such bankrupt, and rateably with the other separate creditors:
To draw, accept, make, and endorse any bill of exchange or promissory note in the name and on behalf of the company, also to raise upon the security of the assets of the company from time to time any requisite sum or sums of money; and the drawing, accepting, making, or endorsing of every such bill of exchange or promissory note as aforesaid on behalf of the company shall have the same effect with respect to the liability of such company, as if such bill or note had been drawn, accepted, made, or endorsed by or on behalf of such company in the course of carrying on the business thereof:
To take out, if necessary, in his official name, letters of administration to any deceased contributory, and to do in his official name any
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Powers of Official Liquidator.