222
CAP. 32]
Companies
[1984 Ed.
(c) the directors shall cause meetings of the company and the creditors of the company to be summoned for a date not later than 28 days after the delivery of such declaration.
(4) Not later than 14 days after the appointment of a provisional liquidator by the directors of a company under this section, the directors shall give public notice in the Gazette of—
(a) the commencement of the winding up of the company by the delivery to the Registrar of a statutory declaration made under this section, and the date of such delivery; and
(b) the appointment of the provisional liquidator and his name and address.
(5) As from the commencement of the winding up of a company under this section--
(a) the company shall cease to carry on its business except so far as may be required for the beneficial winding up thereof:
Provided that the corporate state and corporate powers of the company shall, notwithstanding anything to the contrary in its articles, continue until it is dissolved;
(b) any transfer of shares, not being a transfer made to or with the sanction of the provisional liquidator or the liquidator, as the case may be, and any alteration in the status of the members of the company, made after such commencement shall be void.
(6) A provisional liquidator appointed by the directors of a company under this section shall --
(a) unless the liquidator is sooner appointed, hold office for 28 days or such longer period as the Official Receiver may allow:
(b) take into his custody or under his control all the property and things in action to which the company is or appears to be entitled;
(c) be entitled, out of the funds of the company, to adequate remuneration and reimbursement of expenses properly incurred by him, but he shall not be liable, and no civil action or other proceedings shall lie against him, in respect of acts properly done by him.
(7) A provisional liquidator appointed by the directors of a company under this section shall, for the period of his appointment, have the like powers and be subject to the like duties as a liquidator in a creditors' voluntary winding up, and, accordingly, all the powers of the directors shall cease during that period except so far as may be necessary for the purpose of enabling the directors to comply with this section or the provisional liquidator sanctions the continuance thereof for any other purpose.
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