476

Ch. 31. No. 1.] Companies.

 

Effect of
supervision
order.

Debts of all
descriptions
to be
proved.

as if he had been duly appointed in accordance with the
provisions of this Ordinance with respect to the appointment
of liquidators in a voluntary winding up.

(3) The Court may remove any liquidator so
appointed by the Court or any liquidator continued under
the supervision order and fill any vacancy occasioned by the
removal, or by death or resignation.

247. (1) Where an order is made for a winding up subject
to supervision, the liquidator may, subject to any restric-
tions imposed by the Court, exercise all his powers, without
the sanction or intervention of the Court, in the same
manner as if the company were being wound up altogether
voluntarily:

Provided that the powers specified in paragraphs (d), (e)
and (f) of subsection (1) of section 182 shall not be exercised
by the liquidator except with the sanction of the Court or,
in a case where before the order the winding up was a
creditors’ voluntary winding up, with the sanction of either
the Court or the committee of inspection.

(2) A winding up subject to the supervision of the
Court is not a winding up by the Court for the purpose of the
provisions of this Ordinance which are set out in the
Fighth Schedule to this Ordinance, but, subject as afore-
said, an order for a winding up subject to supervision
shall for all purposes be deemed to be an order for winding
up by the Court:

Provided that where the order for winding up subject
to supervision was made in relation to a creditors’ voluntary
winding up in which a committee of inspection had been
appointed, the order shall be deemed to be an order for
winding up by the Court for the purpose of section 190,
except in so far as the operation of that section is excluded
in a voluntary winding up by rules.

(v) PROVISIONS APPLICABLE TO EVERY MODE OF WINDING
UP.

Proof and ranking of claims.

248. In every winding up (subject in the case of insolvent
companies to the application in accordance with the pro-