COMPANIES.
No. 58 of 1911.
2087
(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.
company's
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.
Custody of property.
146.-(1) The liquidator in a winding-up by the court shall have power, with the sanction either of the court or of the committee of inspection---
(a) to bring or defend any action or other legal proceeding in the name and on behalf of the company:
(b) to carry on the business of the company, so far as may be necessary for the beneficial winding-up thereof:
(c) 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...
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COMPANIES.
No. 58 of 1911.
2087
(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 remunera- tion 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 [cf. s. 196(2).} any defects that may afterwards be discovered in his appoint- ment or qualification.
company's
145. In a winding-up by the court the liquidator shall Custody of take into his custody, or under his control, all the property and things in action to which the company is or appears to 8 Edw. 7, be entitled.
property.
c. 69, s. 150.
146.-(1) The liquidator in a winding-up by the court Powers of shall have power, with the sanction either of the court or of liquidator. the committee of inspection---
(a) to bring or defend any action or other legal proceeding in the name and on behalf of the company:
(b) to carry on the business of the company, so far as may be necessary for the beneficial winding-up thereof:
(e) to employ a solicitor or other agent to take any pro- ceedings or do any business which the liquidator is unable. to take or do himself; but the sanction in this case must be
8 Edw. 7, c. 69, s. 151.
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