Compantes. [Ch. 31. No. 1.

179. (1) A liquidator appointed by the Court may resign
or, on cause shown, be removed by the Court.

(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 distri-
buted 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
Ordinance 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 263, the acts
of a liquidator shall be valid notwithstanding any defects
that may afterwards be discovered in his appointment or
qualification.

180. Where a winding up order has been made or where a
provisional liquidator has been appointed, the liquidator, or
the provisional liquidator, as the case may be, shall tak2 into
his custody, or under his control, all the property and things
in action to which the company is or appears to be entitled.

181. Whcre 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 Iegal 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.

182. (1) The liquidator in a winding up by the Court
shall have power with the sanction cither of the Court or
of the committee of inspection—

(a2) to bring or defend any action or other legal

T.—Iv. 29

449

General
provisions
as to
liquidators.

Custody ol
company’s
property.

Vesting of
property of
company in
liquidator.

Powers of
liquidator.