Compantes. [|Gh. 31. No. 1.

 

bankrupt or insolvent, and ratcably with the other
separate creditors;

(d) to draw, accept, make, and indorse any bill of
exchange or promissory note in the name and on behalf
of the company, with the same effect with respect to the
lability of the company as if the bill or note had been
drawn, accepted, made, or indorsed by or on behalf of
the company in the course of its business;

(e) to raise on the security of the assets of the com-
pany any money requisite;

(f) to take out in his official name letters of adminis-
tration to any deceased contributory, and to do in his
official name any other act necessary for obtaining
payment of any money due from a contributory or his
estate which cannot be conveniently done in the name
of the company, and in all such cases the money due
shall, for the purpose of enabling the liquidator to take
out the letters of administration or recover the money,
be deemed to be due to the liquidator himself;

(g) to appoint an agent to do any business which the
liquidator is unable to do himself;

(2) 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.

183. (1) Subject to the provisions of this Ordinance, the
liquidator of a company which is being wound up by the
Court shall, in the administration of the assets of the com-
pany and in the distribution thereof among its creditors,
have regard to any directions that may be given by resolu-
tion 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
29 (2)

451

Exercise
and contr:
of liquida-
tor’s powers.