Section 365: Cessation of boards’ powers
The Companies Act, 2017 · Federal Acts · in_force
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365. Cessation of boards’ powers.—On the appointment of a liquidator, all the powers of the board, chief executive and other officers shall cease, except for the purpose of giving notice of resolution to wind up and appointment of the liquidator and filing of consent of the liquidator as required under this Act, the creditors, in general meeting may sanction the continuance thereof.
Effective date: 2017-05-30
Related sections
Section 364: Fixing of liquidator’s remunerationSection 366: Power to fill vacancy in office of liquidatorSection 363: Appointment of liquidatorSection 367: Application of section 356 to a creditors voluntary winding upSection 362: Meeting of creditorsSection 368: Duty of liquidator to call meeting of company and of creditors
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