Companies. [Ch. 31. No. 1.

146. Where the sanction of the Court to a payment to a member of a
Committee of Inspection for services rendered by him in connection with
the administration of the company’s assets is obtained, the order of the
Court shall specify the nature of the services, and such sanction shall
only be given where the service performed is of a special nature. Except
by the express sanction of the Court no remuneration shall, under any
circumstances, be paid to a member of a Committee for services rendered
by him in the discharge of the duties attaching to his office as a member
of such Committee.

147, (1) Where a Liquidator is appointed by the Court, and has notified
his appointment to the Registrar and given security as required, the
Official Receiver shall forthwith put the Liquidator into possession of all
property of the company of which the Official Receivewrmay have custody :
Provided that such Liquidator shall have, before the assets are handed
over to him by the Official Receiver, discharged any balance due to the
Official Receiver on account of fees, costs, and charges properly incurred
by him, and on account of any advances properly made by him in respect
of the company, together with interest on such advances at the rate of
six per centum per annum; and the Liquidator shall pay all fees, costs,
and charges of the Official Receiver which may not have been discharged
by the Liquidator before being put into possession of the property of
the company, and whether incurred before or after he has been put into
such possession.

(2) The Official Receiver shall be deemed to have a lien upon the

company’s assets until such balance shall have been paid and the other
liabilities shall have been discharged.

(3) It shall be the duty of the Official Receiver, if so requested by
the Liquidator, to communicate to the Liquidator all such information
respecting the estate and affairs of the company as may be necessary or
conducive to the due discharge of the duties of the Liquidator.

(4) This and the next following rule shall only apply in a winding
up by the Court.

148. A Liquidator who desires to resign his office shall summon separate
meetings of the creditors and contributories of the company to decide
whether or not the resignation shall be accepted. If the creditors and
contributories by ordinary resolutions both agree to accept the resignation
of the Liquidator, he shall file with the Registrar and the Registrar of
the Supreme Court a memorandum of his resignation; and shall send
notice thereof to the Official Receiver, and the resignation shall thereupon
take effect. In any other case the Liquidator shall report to the Court
the result of the meetings and shall send a report to the Official Receiver
and thereupon the Court may, upon the application of the Liquidator
or the Official Receiver, determine whether or not the resignation of the
Liquidator shall be accepted, and may give such directions and make
such orders as in the opinion of the Court shall be necessary.

149. If a receiving order in bankruptcy is made against a Liquidator,
he shall thereby vacate his office, and for the purpose of the application
of the Ordinance and rules shall be deemed to have been removed.

607

Sanction of
payments to
Committee.

Discharge of
costs before
assets
handed to
Liquidator.

Resignation
of
Liquidator.

Office of
Liquidator
vacated

by his
insolvency.