COMPANIES.
1.
¦ Custody of company's property. 8 Edw. 7 c. 69 s. 150.
(2) The Court may make such an appointment provisionally at any time after the presentation of a petition and before the making of an order for winding up.
(3)-(a) If a provisional liquidator is appointed before the making of a winding-up order, the Official Receiver or any other fit person may be appointed :
(b) on a winding-up order being made the Official Receiver shall by virtue of his office become the provisional liquidator and shall continue to act as such until he or another person becomes liquidator and is capable of acting as such :
(c) when a person other than the Official Receiver is appointed liquidator he shall not be capable of acting as liquidator until he has notified his appointment to the Registrar of Companies and given security to the satisfaction of the Official Receiver.
(4) If more than one liquidator is appointed by the Court, the Court shall declare whether any act by this Ordinance required or authorised to be done by the liquidator is to be done by all or any one or more of the persons appointed.
(5) A liquidator appointed by the Court may resign or, on cause shown, be removed by the Court.
(6) A vacancy in the office of a liquidator appointed by the Court shall be filled by the Court, and the Official Receiver shall by virtue of his office be the liquidator during the vacancy.
(7) Where a person other than the Official Receiver is appointed liquidator, he shall receive such salary or remuneration by way of percentage or otherwise as the Court may direct; and, if more such persons than one are appointed liquidators, their remuneration shall be distributed among them in such proportions as the Court directs.
(8) A liquidator shall be described, where a person other than the Official Receiver is liquidator, by the style of the liquidator, and, where the Official Receiver is liquidator, by the style of the Official Receiver and liquidator, of the particular company in respect of which he is appointed, and not by his individual name.
(9) The acts of a liquidator shall be valid notwithstanding any defects that may afterwards be discovered in his appointment or qualification.
145. In a winding up by the Court the liquidator shall 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.
COMPANIES.
1.
¦
Custody of company's property. 8 Edw. 7
c. 69 s. 150.
(2) The Court may make such an appointment provisionally at any time after the presentation of a petition and before the making of an order for winding up.
(3)-(a) If a provisional liquidator is appointed before the making of a winding-up order, the Official Receiver or any other fit person may be appointed :
(b) on a winding-up order being made the Official Receiver shall by virtue of his office become the provisional liquidator and shall con- tinue to act as such until he or another person becomes liquidator and is capable of acting as such :
(c) when a person other than the Official Receiver is appointed liquidator he shall not be capable of acting as liquidator until he has notified his appointment to the Registrar of Companies and given security to the satisfaction of the Official Receiver.
(4) If more than one liquidator is appointed by the Court, the Court shall declare whether any act by this Ordinance required or authorised to be done by the liquidator is to be done by all or any one or more of the persons appointed.
(5) A liquidator appointed by the Court may resign or, on cause shown, be removed by the Court.
(6) A vacancy in the office of a liquidator appointed by the Court shall be filled by the Court, and the Official Receiver shall by virtue of his office be the liquidator during the vacancy.
(7) Where a person other than the Official Receiver is appointed liquidator, be shall receive such salary or remuneration by way of percentage or otherwise as the Court may direct; and, if more such persons than one are appointed liquidators, their remuneration shall be distributed among them in such proportions as the Court directs.
(8) A liquidator shall be described, where a person other than the Official Receiver is liquidator, by the style of the liquidator, and, where the Official Receiver is liquidator, by the style of the Official Receiver and liquidator, of the particular company in respect of which he is appointed, and not by his individual name.
(9) The acts of a liquidator shall be valid notwithstanding any defects that may afterwards be discovered in his appointment or qualification.
145. In a winding up by the Court the liquidator shall 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.
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