}
When a person other than the official recci- ver is appointed liquidator the
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76. s. 159.
184.-(1) [The] official receiver shall take cognizance Control over of the conduct of fignidators of companies which are being liquidators. wound up by the court, and, if a liquidator does not faithfully perform his duties and duly observe all the requirements imposed on him by ordinance, rules, or otherwise with respect to the performance of his duties, or if any complaint is made to the official receiver by any creditor or contributory in regard thereto, the official receiver shall inquire into the matter, and take ench action thereon as he may think expedient.
(2) The official receiver may at any time require any liquidator of a company which is being wound up by the court to answer any inquiry in relation to any winding up in which he is engaged, and may if the official receiver think fit apply to the court to examine him or any other person on oath concerning the winding up.
(3) The court may also direct a local investigation to be made of the books and vouchers of the liquida tor.
Committee of Inspection, Special Manager, Receiver.
155.--(1) A committee of inspection appointed in Committee pursuance of this Ordinance shall consist of creditors and of inspection contributuries of the company or persons holding general in winding powers of attorney from ereditors or contributories in such ap
b. s. 160, may he agreed on by the meetings of proportions aN creditors and contributories, or us, in case of difference, may be determined by the court.
(2) The committee shall meet at such times as they from time to time appoint, and, failing such appointment,
nt least once a mouth; and the liquidator or muy member
of the committee may also call a meeting of the com- mittee as and when he thinks necessary.
(8) The committee may ant by a majority of their mom- bers present at a meeting, but shall not act unless a major- ity of the committee are present,
(4) Any member of the committeo may resigu by notice in writing signed by him and deliveral to the liquidator.
(3) U a member of the committee boronies bankrupt, or compomids or arranges with his creditors, or is absent from five consecutive weerings of the committee without the leave of those members who together with himself repre- sent the creditors or contributories, as the ease may be, his office shall thereupon become vacnut.
(6) Auy member of the committee may be removed by an ordinary resolution at a meeting of creditors (if he represents creditors), or of contributorius (if he représents contributories) of which seven days' notion has been given, stating the object of the meeting.
(7) On a vacancy occurring in the committee the liquidator shall forthwith summon a meeting of ereditors or of contributories, as the case may require, to fill the vacancy, and the meeting may, by resolution, re-appoint the samo or appoint another creditor or contributory to fill the
vacancy.
(8) The continuing members of the committee, if not less than two, may act notwithstanding any vacancy in the committee.
(9) If there is no committee of inspection, any act or thing or any direction or permission by this Ordinance authorised or required to be lane or given by the committee. may be done or given by the court on the application of the liquidator.
L'ower
158.--(1) Where the official receiver becomes the fiquidator of a company, whether provisionally or otherwise, to appofar he may, if satisfied that the unture of the estate or business special of the company, or the interests of the creditors or contri- anger. batories generally, require the appointment of a special & Edw. 7 e. manager of the estate or business of the company other 49 s. 161. than himself, apply to the court to, and the court may on such application, appoint a special munnger thereof to net during such time as the court may direct, with such powers, including any of the powers of a receiver or manager, as may be entrusted to him by the court.
Power to appoint officia! receiver na receiver for deben are holders of creditors.
8 Edw. 7 c.
69 %. 182.
Settlement
tributeries
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(2) The special manager shall give such security and account in such manner as the official receiver directs.
(3) The special manager shall receive such remuneration as may be fixed by the court.
157. Where an application is made to the court to appoint a receiver on behalf of the debenture bolders or other creditors of a company which is being wound up by the court the official receiver may be so appointed.
Ordinary Powers of Court.
158.-(1) As soon as may be after making a winding-
of list of con- up order, the court shall settle a list of contributories, with and applica Power to rectify the register of members in all cases where tron of assets, rectification is required in pursanm e of this Ordinance, and b. s. 168, sha cause the assets of the company to be collected, and
applied in discharge of its liabilities.
Power ta require
delivery of property 7. s. 164.
Power to order pay- mert of debts by contributory Th. s. 165.
Power of court to make calls. 7. a. 164.
Power to
order pay- ment into bank.
Ib. s. 107.
(2) Ju settling the list of contributories, the court shall distinguish between persons who are contributories in their own right and persons who are contributories as being representatives of or liable to the debts of others.
169. The court may, at any time after making a wind- ing-up order, require any contributory for the time being settled on the list of contribatories, and any trustee, receiver, banker, agent, or officer of the company to pay, deliver, convey, surrender, or transfer forthwith, or within such time as the court directs, to the liquidator any money, property, or books and papers in his hands to which the company is primâ facie entitled.
180. (1) The court may, at any time after making a winding-up order, make an order on any contributory for the time being settled on the list of contributories to pay, in manner directed by the order, any money due from him or from the estate of the person whom he represents to the company, exclusive of any money payable by him or the estate by virtue of any call in porsuauce of this Ordinance. (2) The court in making such an order may, in the case of an nuliated company, allow to the contributory by way of set-off any money due to him or the estate which he represents from the company on any independent dealing or contract with the company, but not any money due to him as a member of the company in respect of any dividend or profit; and may, in the ease of a limited company, make. in any director or manager whose liability is unlimited or to his estate the like allowance,
(8) But in the case of any company, whether limited or unlimited, when all the creditors are paid in full, any money due on any account whatever to a contributory from the company may be allowed to him by way of set-off against any subsequent call.
161-(1) The court may, at any time after making a winding-up order, and either before or after it bas ascer tained the sufficiency of the assets of the company, make calls ou and order payment thereof by all or any of the contributories for the time being settled on the list of the contributories to the extent of their liability, for payment of any money which the court cousidors necessary to satisfy the debts and liabilities of the company, and the costs, charges, and expenses of winding up, and for the adjust- ment of the rights of the contributories among themselves.
(2) In making a call the court may take into cousiđern- tion the probability that some of the contributories may partly or wholly fail to pay the call.
162.-(1) The court may order any contributory, pur- chaser or other person from whom money is due to the company to pay the same into such Bank as the court may direct to the account of the liquidator instead of to the liquidator, and any such order may be enforced in the same manner as if it had directed payment to the liquidator.
(2) All moneys and securities paid or delivered into such Bank in the event of a winding up by the court shall be subject in all respects to the orders of the court,
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