1984 Ed.]
Companies
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(3) The liquidator may apply to the court in manner prescribed for directions in relation to any particular matter arising under the winding up.
(4) Subject to the provisions of this Ordinance, the liquidator shall use his own discretion in the administration of the assets and the distribution thereof among the creditors. (Amended, 6 of 1984, s. 141)
(5) If any person is aggrieved by any act or decision of the liquidator, that person may apply to the court, and the court may confirm, reverse, or modify the act or decision complained of, and make such order in the premises as it thinks just.
201. Every liquidator of a company which is being wound up by the court shall keep, in manner prescribed, proper books in which he shall cause to be made entries or minutes of proceedings at meetings, and of such other matters as may be prescribed, and any creditor or contributory may, subject to the control of the court, personally or by his agent inspect any such books.
202. (1) Every liquidator other than the Official Receiver of a company which is being wound up by the court shall, in such manner and at such times as the Official Receiver directs, pay the money received by him to the Companies Liquidation Account at the bank where such account is kept, and when the Official Receiver is the liquidator of such company he shall pay all moneys received by him in such capacity into the Companies Liquidation Account:
Provided that the Official Receiver may, on the application of the committee of inspection, authorize the liquidator to make his payments into and out of any other bank specified by the committee in such application, and thereupon those payments shall be made in the prescribed manner. (Amended, 6 of 1984, s. 142)
(2) If any such liquidator at any time retains for more than 10 days a sum exceeding $2,000, or such other amount as the Official Receiver in any particular case may authorize him to retain, then, unless he explains the retention to the satisfaction of the court, he shall pay interest on the amount so retained in excess at the rate of 20 per cent per annum, and shall be liable to disallowance of all or such part of his remuneration as the court may think just, and to be removed from his office by the court, and shall be liable to pay any expenses occasioned by reason of his default. (Amended, 6 of 1984, s. 142)
(3) A liquidator of a company which is being wound up by the court shall not pay any sums received by him as liquidator into his private banking account.
203. (1) Every liquidator (other than the Official Receiver) of a company which is being wound up by the court shall, at such times as may be prescribed but not less than twice in each year during his tenure of office, submit to the Official Receiver an account of his receipts and payments as liquidator.
Books to be kept by liquidator.
1929 c. 23, s. 193.
Payments of liquidator into bank or Treasury.
1929 c. 23, s. 194.
Audit of liquidator's accounts. 1929 c. 23, s. 195.
2N283/260
1984 Ed.]
Companies
[CAP. 32
207
(3) The liquidator may apply to the court in manner pre- scribed for directions in relation to any particular matter arising under the winding up.
(4) Subject to the provisions of this Ordinance, the liquida- tor shall use his own discretion in the administration of the assets and the distribution thereof among the creditors. (Amended, 6
of 1984, s. 141)
(5) If any person is aggrieved by any act or decision of the liquidator, that person may apply to the court, and the court may confirm, reverse, or modify the act or decision complained of, and make such order in the premises as it thinks just.
201. Every liquidator of a company which is being wound up by the court shall keep, in manner prescribed. proper books in which he shall cause to be made entries or minutes of proceedings at meetings. and of such other matters as may be pescribed and any creditor or contributory may, subject to the control of the court, personally or by his agent inspect any such books.
202. (1) Every liquidator other than the Official Receiver of a company which is being wound up by the court shall, in such manner and at such times as the Official Receiver directs. pay the money received by him to the Companies Liquidation Account at the bank where such account is kept, and when the Official Receiver is the liquidator of such company he shall pay all moneys received by him in such capacity into the Companies Liquidation Account:
Provided that the Official Receiver may, on the application of the committee of inspection, authorize the liquidator to make his payments into and out of any other bank specified by the committee in such application, and thereupon those payments shall be made in the prescribed manner. (Amended, 6 of 1984, s. 142)
(2) If any such liquidator at any time retains for more than 10 days a sum exceeding $2,000, or such other amount as the Official Receiver in any particular case may authorize him to retain, then, unless he explains the retention to the satisfaction of the court, he shall pay interest on the amount so retained in excess at the rate of 20 per cent per annum, and shall be liable to disallowance of all or such part of his remuneration as the court may think just, and to be removed from his office by the court, and shall be liable to pay any expenses occasioned by reason of his default. (Amended, 6 of 1984, s. 142)
(3) A liquidator of a company which is being wound up by the court shall not pay any sums received by him as liquidator into his private banking account.
203. (1) Every liquidator (other than the Official Receiver) of a company which is being wound up by the court shall, at such times as may be prescribed but not less than twice in each year during his
Books to be kept by liquidator.
1929 c. 23. s. 193.
Payments of liquidator into bank or Treasury.
1929 c. 23, s. 194.
Audit of liquidator's accounts. 1929 c. 23, s. 195.
2N283/260
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