COMPANIES ACT, 192¢

361

188.—(1) A liquidator appointed by the court may resign or, on General pro-
cause shown, be removed by the court. Cs bg

(2) 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.

(3) A vacancy in the office of a liquidator appointed by the
court shall be filled by the court.

(4) If more than one liquidator is appointed by the court, the
court shall declare whether any act by this Act 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) Subject to the provisions of section two hundred and
seventy-eight of this Act, the acts of a liquidator shall be valid not-
withstanding any defects that may afterwards be discovered in his
appointment or qualification.
189.—(1) Where a winding-up order has been made or where Custody of
a provisional liquidator has been appointed, the liquidator, or the po=eey®
provisional liquidator, as the case may be, 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.

(2) In a winding up by the court in Scotland, if and so long a-
there is no liquidator, all the property of the company shall b+
deemed to be in the custody of the court.
190. Where a company is being wound up by the court, the court
may on the application of the liquidator by order direct that all or
any part of the property of whatsoever description belonging to the
company or held by trustees on its behalf shall vest in the liquidator
by his official name, and thereupon the property to which the order
relates shall vest accordingly, and the liquidator may, after giving
such indemnity, if any, as the court may direct, bring or defend in
his official name any action or other legal proceeding which relates to
that property or which it is necessary to bring or defend for the
purpose of effectually winding up the company and recovering its
property.

Vesting of
property of
company in
liquidator.

191.—(1) The liquidator in a winding up by the court shall have Powers of
power with the sanction either of the court or of the comm‘ +=e of liquidator
inspection—

(a) to bring or defend any action or other legal proc
in the name and on behalf of the company:
to carry on the business of the company, so far as may bv
necessary for the beneficial winding up thereof:
to appoint a solicitor or law arent to assist him in the per-
formance of his duties:
to pay any classes of creditors iu

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