Full text: Secretarial practice

COMPANIES ACT, 1929 
663 
(g) to appoint an agent to do any business which the liquidator 
is unable to do himself: 
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 subject to the control 
of the court, and any creditor or contributory may apply to the 
court with respect to any exercise or proposed exercise of any of 
those powers. 
(4) In the case of a winding up in Scotland, the court may pro- 
vide by any order that the liquidator may, where there is no com- 
mittee of inspection, exercise any of the powers mentioned in para- 
graph (a) or paragraph (b) of subsection (1) of this section without 
the sanction or intervention of the court. 
(5) In a winding up by the court in Scotland, the liquidator 
shall, subject to general rules, have the same powers as a trustee on 
a bankrupt estate. 
192.—(1) Subject to the provisions of this Act, the liquidator 
of a company which is being wound up by the court in England 
shall, in the administration of the assets of the company and in the 
distribution thereof among its creditors, have regard to any directions 
that may be given by resolution of the creditors or contributories at 
any general meeting, or by the committee of inspection, and any 
directions given by the creditors or contributories at any general 
meeting shall in case of conflict be deemed to override any directions 
given by the committee of inspection. 
(2) The liquidator may summon general meetings of the 
creditors or contributories for the purpose of ascertaining their 
wishes, and it shall be his duty to summon meetings at such times 
as the creditors or contributories, by resolution, either at the meeting 
appointing the liquidator or otherwise, may direct, or whenever 
requested in writing to do so by one-tenth in value of the creditors 
or contributories as the case may be. 
(3) The liquidator may apply to the court in manner prescribed 
or directions in relation to any particular matter arising under the 
winding up. 
(4) Subject to the provisions of this Act, the liquidator shall 
use his own discretion in the management of the estate and its dis- 
tribution among the creditors. 
(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. 
193. Every liquidator of a company which is being wound up by 
the court in England shall keep, in manner prescribed, proper books 
in which he shall cause to be made entries or minutes of proceedings 
Exercise and 
control of 
igquidator’s 
powers in 
England. 
Books to be kept 
by liquidator in 
England.
	        
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