Section 373: Power of Court to appoint and remove liquidator in voluntary winding up

373. Power of Court to appoint and remove liquidator in voluntary winding up.—(1) If from any cause whatever, there is no liquidator acting, the Court may appoint a liquidator in accordance with the provisions of section 315 who shall have the same powers, as are exercisable by an official liquidator under sub-section (1) of section 337. (2) The Court may, on cause shown, replace a liquidator on the application of any creditor or contributory or the registrar or a person authorised by the Commission. (3) The remuneration to be paid to the liquidator appointed under sub- section (1) or sub-section (2) shall be fixed by the Court subject to the provisions of section 364.

Effective date: 2017-05-30

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