Power to fil vacancy in office of liquidator.
8 Edw. 7 c. 49 s. 189.
Delegation of authority to appoint liquidators. 16. s. 190.
Arrange- ment when
binding ou creditors. Ib. s. 191.
Power of
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the meeting once in the Gazette and once at least in two local newspapers circulating in the district where the principal place of business of the company was situate.
(2) At the meeting to be held in pursuance of the fore- going provisions of this section the creditors shall determine whether an application shall be made to the court for the appointment of any person as liquidator in the place of or jointly with, the liquidator appointed by the company, or for the appointment of a committee of inspection, and, if the creditors so resolve, au application may be made accord- ingly to the court at any time, not later than fourteen days after the date of the meeting, by any creditor appointed for the purpose at the meeting.
(3) On any such application the court may make an order either for the removal of the liquidator appointed by the company and for the appointment of some other person as liquidator or for the appointment of some other person to act as liquidator jointly with the liquidator appointed by the company, or for the appointment of a committee of inspec- tion either together with or without any such appointment of a liquidator or such other order as, having regard to the interests of the creditors and contributories of the company, may seem just.
(4) No appeal shall lie from an order of the court upon such application under this section.
(5) The court shall make such order as to the costs of the application as it may think fit, and if it is of opinion that, having regard to the interests of the creditors in the liquidation, there were reasonable grounds for the applica- tion, may order the costs of the application to be paid out of the assets of the company, notwithstanding that the application is dismissed or otherwise disposed of adversely to the applicant.
181.—(1) If a vacancy occurs by death, resignation, or otherwise in the office of liquidator appointed by the com- pany in a voluntary winding up, the company in general meeting may, subject to any arrangement with its creditors, fill the vacancy.
(2) For that purpose a general meeting may be con- vened by any contributory or, if there were more liquidators than one, by the continuing liquidators.
(3) The meeting shall be held in manuer prescribed by the articles, or in such manner as may, on application by any contributory or by the continuing liquidators, be deter- mined by the court.
182.—(1) A company about to be, or in course of being, wound up voluntarily may, by extraordinary resolution, delegate to its creditors, or to any committee of them, the power appointing liquidators or any of them, and of supply- ing vacancies among the liquidators, or enter into arrange- ment with respect to the powers to be exercised by the liquidators, and the manner in which they are to be exercised.
(2) Any act done by creditors in pursuance of any such delegated power shall have the same effect as if it had been done by the company.
183.-(1) Any arrangement entered into between a company about to be, or in the course of being, wound up voluntarily and its creditors shall, subject to any right of appeal under this section, be binding on the company if sanctioned by an extraordinary resolution, and on the creditors if acceded to by three fourths in number and value of the creditors.
(2) Any creditor or contributory may, within three weeks from the completion of the arrangement, appeal to the court against it, and the court may thereupon, as it thinks just, amend, vary, or confirm the arrangement.
184.—(1) Where a company is proposed to be, or is in liquidator to course of being, wound up altogether voluntarily, and the accept whole or part of its business or property is proposed to be shares &c.
transferred or sold to another company in this section called the transferce company), the liquidator of the first- mentioned company (in this section called the transferor
as considera-
tion for sale
of property of company. 16. s. 192.
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