23164-1911-Supplementary-Bill-re-published--Companies — Page 53

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(b) to carry on the business of the company, so far as may be necessary for the beneficial winding up thereof:

() to employ a solicitor or other agent to take any proceedings or do any business which the liquidator is unable to take or do himself; but the sanction in this case must be obtained before the employment, except in cases of urgency, and in those cases it must be shown that no undue delay took place in obtaining the sanction.

The sanction given for the purpose of this sub- section shall not be a general sanction to do all or any of the above-mentioned things, but shall only be a sanction to do the particular thing or things for which permission is sought. (2) The liquidator in a winding up by the court shall have power :-

(a) To sell the real and personal property, and things in action of the company by public auction or private contract, with power to transfer the whole thereof to any persou or company, or to sell the same in parcels : (b) To do all acts and to execute, in the mame and on behalf of the company, all deeds, receipts, and other documents, and for that purpose to use, when necessary, the company's seal; (e) To prove, rank, and claim in the bankruptcy, insolvency, or sequestration of any contributory, for any balance against his estate, and to receive dividends in the bankiuptey, insolvency, on sequestration in respect of that balance, as a separate debt due from the bankrupt or insol- vent, and rateably with the other separate creditors:

(d) To draw, accept, make, and indorse any bill of exchange or promissory note in the name and on behalf of the company, with the same effect with respect to the liability of the company as if the bill or note had been drawn, ccepted, made, or indorsed by or on behalf of the com- pany, in the course of its business :- (e) To raise on the security of the assets of the

company any money requisite:

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(f) To take out in his official name, letters of administration to any deceased contributory, and to do in his official name any other act necessary for obtaining payment of any money due from a contributory or his estate which caunot be conveniently done in the name of the company; and in all such cases the money due shall, for the purpose of enabling the liquidator to take out the letters of administration or recover the money, he deemed to be due to the liquidator himself :

(g) To do all such other things as may be necessary for winding up the affairs of the company and distributing its assets.

(3) The exercise by the liquidator in a winding up by the court of the powers conferred by this section shall be the official subject to the control of the court, and [] any ereditor or receiver or contributory may apply to the court with respect to any

exercise or proposed exercise of any of those powers.

Meetings of

(4) Where a liquidator is provisionally appointed by the court, the court may limit and restrict his powers by the order appointing him.

147.—(1) When a winding-up order has been made by creditors and the court the official receiver shall summon separate meetings of the creditors and contributories of the company for the purpose of --

contribu.

tories in

winding up.

8 Edw. 7 c.

69 s. 152.

(a) determining whether or not an application is to be made to the court for appointing a liquid- ator in the place of the official receiver; and (6) determining whether or not an application is to be made to the court for the appointment of a committee of inspection to act with the liquid- ator, and who are to be the members of the committee if appointed.