452

Books to
be kept by
liquidator

Payments of
liquidator
into bank

Ch. 31. No. 1.| C ompante,

the creditors or contributories for the purpose of ascer-
taining 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 contti-
butories as the case mav be.

(3) The liquidator may apply to the Court in manner
prescribed for directions in relation to any particular
matter arising under the winding up.

(+) Subject to the provisions of this Ordinance, the
liquidator shall use his own discretion in the management of
the estate and its distribution among the creditors.

(5) If any person is aggrieved by any act or decision
of the hquidator, 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.

184. Every liquidator of a company which is being wound
up by the Court shall keep, in manner prescribed, proper
books in which he shall cause to be made entries or minutes
of proceedings at meetings, and of such other matters as
may be prescribed, and any creditor or contributory may,
subject to the control of the Court, personally or by his
agent inspect any such books,

185. (1) Every liquidator ot a company which is being
wound up by the Court shall pay the money received by him
into such bank as the Court may direct.

(2) If any such liquidator at any time retains for
more than ten days 2 sum exceeding two hundred and fifty
dollars, or such other amount as the Court in any particular
case authorises him to retain, then, unless he explains the
retention to the satisfaction of the Court, he shall pay interest
on the amount so retained in excess at the rate of twenty
per cent. per annum, and shall be liable to disallowance of
all or such part of his remuneration as the Court may think
just, and to be removed from his office by the Court, and
shall be liable to pay any expenses occasioned by reason of
his default.