A.D. 1865.]
COMPANIES.
[No. 1.
87
ber of votes conferred on each contributory by the regulations of the company.
Official Liquidators.
of official liquidators.
140.-(1.) For the purpose of conducting the proceedings in winding up a company, and assisting the Court therein, there may be appointed a person or persons to be called an official liquidator or official liquidators; and the Court may appoint such person or persons, either provisionally or otherwise as it thinks fit, to the office of official liquidator or official liquidators.
(2.) In all cases if more persons than one are appointed to the office of official liquidator, the Court shall declare whether any act hereby required or authorized to be done by the official liquidator is to be done by all or any one or more of such persons.
(3.) The Court may also determine whether any and what security is to be given by any official liquidator on his appointment.
(4.) If no official liquidator is appointed, or during any vacancy in such appointment, all the property of the company shall be deemed to be in the custody of the Court.
c. 89 s. 92.
141.-(1.) Any official liquidator may resign or be removed by the Court on due cause shown.
removal, and remuneration of official liquidator.
(2.) Any vacancy in the office of an official liquidator appointed by the Court shall be filled by the Court.
(3.) There shall be paid to the official liquidator such salary or remuneration, by way of percentage or otherwise, as the Court may direct; and if more liquidators than one are appointed such remuneration shall be distributed amongst them in such proportions as the Court may direct.
142.-(1.) The official liquidator or official liquidators shall be described by the style of the official liquidator or official liquidators of the particular company in respect of which he is or they are appointed, and not by his or their individual name or names.
(2.) 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.
143. The official liquidator shall have power, with the sanction of the Court, to do the following things:
(1.) to bring or defend any action, suit, or other legal proceeding in the name and on behalf of the company;
(2.) to carry on the business of the company, so far as may be necessary for the beneficial winding-up of the same;
liquidator. Ib. s. 93.
Style and duties of official liquidator.
Ib. s. 94.
Powers of official liquidator.
Ib. s. 95.