Compante, [Ck. 3t. No. 1.

Committees of (ns pection,

189. (1) When a winding up order has been made by the
Court, it shall be the business of the separate meetings of
creditors and contributories summoned for the purpose of
determining whether or not an application should be made
to the Court for appointing a liquidator in place of the
Official Receiver, to determine further whether or not an
application is to be made to the Court for the appointment
of a committee of inspection to act with the liquidator and
who are to be members of the committee if appointed,

(2) The Court may make any appointment and order
required to give effect to any such determination, and if
there is a difference between the determinations of the
meetings of the creditors and contributories in respect of
the matters aforesaid the Court shall decide the difference
and make such order thereon as the Court may think fit.

190. (1) A committee of inspection appointed in- pur-
suance of this Ordinance shall consist of creditors and
contributories of the company or persons holding general
powers of attorney from = creditors or contributories in
such proportions as may be agreed on by the meetings of
creditors and contributories, or as, in case of difference, may
be determined by the Court.

(2) The committee shall meet at such times as they
irom time to time appoint, and, failing such appointment,
at least once a month, and the liquidator or any member
of the committee may also call a meeting of the committee
as and when he thinks necessary

(3) The committee may act by a majority of their
members present at a meeting, but shall not act unless a
majority of the committee are present.

(4) A member of the committee may resign by
notice in writing signed by him and delivered to. the
liquidator.

(5) Ifa member of the committee becomes bankrupt,
or compounds or arranges with his creditors, or is absent
(rom five consecutive meetings of the committee without
the leave of those members who together with himself
represent the creditors or contributories, as the case may
be. his office shall thereupon become vacant.

455

Meetings ot
creditors and
contribu
tories to
determine
whether
committer
of inspection
shall be
appointed

Constituties
and pro-
ceedings ot
committee of
Inspection