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CONTENTS
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Sections
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Particulars
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A.
Secretaries and Treasurers. |
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Appointment
of secretaries and treasurers. |
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Provisions
applicable to managing agents to apply to secretaries and treasurers
with the exceptions and modifications specified in sections 380 to
383. |
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Sections
324, 330 and 332 not to apply. |
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Section
348 to apply subject to a modification. |
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Secretaries
and treasurers not to appoint directors. |
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Secretaries
and treasurers not to sell goods or articles produced by company,
etc., unless authorised by Board. |
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Certain
companies to have secretaries. |
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B.
Managers |
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Firm
or body corporate not to be appointed manager. |
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Certain
persons not to be appointed managers. |
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Number
of companies of which a person may be appointed manager. |
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Remuneration
of manager. |
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Application
of sections 269, 310, 311, 312 and 317 to managers. |
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Sections
386 to 388 not to apply to certain private companies. |
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Powers
of Central Government to Remove Managerial Personnel from Office on
the Recommendation of the Company Law Board. |
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Reference
to Company Law Board of cases against managerial personnel. |
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Interim
order by Company Law Board. |
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Findings
of the Company Law Board. |
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Power
of Central Government to remove managerial personnel on the basis
of Company Law Board's decision. |
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Arbitration,
Compromises, Arrangements and Reconstructions. |
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Repealed
- Power for Companies to refer matters to arbitration. |
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Interpretation
of sections 391 and 393. |
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Power
to compromise or make arrangements with creditors and members. |
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Power
of High Court to enforce compromises and arrangements. |
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Information
as to compromises or arrangements with creditors and members. |
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Provisions
for facilitating reconstruction and amalgamation of companies. |
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Notice
to be given to Central Government for applications under Sections
391 and 394. |
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Power
and duty to acquire shares of shareholders dissenting from scheme
or contract approved by majority. |
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Power
of Central Government to provide for amalgamation of companies in
national interest. |
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Preservation
of books and papers of amalgamated company. |
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Prevention
of Oppression and Mismanagement. |
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Application
to Company Law Board for relief in cases of oppression. |
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Application
to Company Law Board for relief in cases of mismanagement. |
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Right
to apply under sections 397 and 398. |
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Notice
to be given to Central Government of applications under sections 397
and 398. |
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Right
of Central Government to apply under sections 397 and 398. |
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Powers
of Company Law Board on application under section 397 or 398. |
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Interim
order by Company Law Board. |
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Effect
of alteration of memorandum or articles of company by order under
section 397 or 398. |
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Addition
of respondents to application under section 397 or 398. |
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Application
of sections 539 to 544 to proceedings under sections 397 and 398. |
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Consequences
of termination or modification of certain agreements. |
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Powers
of Government to prevent oppression or mismanagement. |
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Power
of Company Law Board to prevent change in Board of Directors Likely
to affect company prejudicially. |
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Constitution
and Powers of Advisory Committee. |
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Appointment
of Advisory Committee. |
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Repealed. |
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Repealed. |
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Repealed. |
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Repealed. |
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Repealed. |
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Miscellaneous
provisions. |
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Contracts
by agents of company in which company is undisclosed principal. |
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Employees'
securities to be deposited in post office savings Bank or in Scheduled
Bank. |
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Provision
applicable to provident funds of employees. |
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Right
of employee to see bank's receipt for moneys or securities referred
to in section 417 or 418. |
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Penalty
for contravention of section 417, 418 and 419. |
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Filing
of accounts of receivers. |
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Invoices,
etc., to refer to receiver where there is one. |
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Penalty
for non-compliance with sections 421 and 422. |
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Application
of sections 421 to 423 to receivers and managers appointed by Court
and managers appointed in pursuance of an instrument. |
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Reference to Tribunal. |
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Inquiry into working of sick industrial companies. |
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Powers of Tribunal to make suitable order on completion of inquiry. |
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Preparation and sanction of schemes. |
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Rehabilitation by giving financial assistance. |
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Arrangement for continuing operations, etc., during inquiry. |
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Winding up of sick industrial company. |
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Operating agency to prepare complete inventory, etc. |
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Direction not to dispose of assets. |
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Power of Tribunal to call for periodic information. |
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Misfeasance proceedings. |
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Penalty for certain offences. |
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Winding
Up |
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Preliminary |
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Modes
of winding up. |
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Liability
as contributories of present and past members. |
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Obligations
of directors, managers whose liability is unlimited. |
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Definition
of "contributory". |
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Nature
of liability of contributory. |
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Contributories
in case of death of member. |
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Contributories
in case of insolvency of member. |
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Contributories
in case of winding up of a body corporate which is a member. |
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Winding
up by the Court. |
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Circumstances
in which company may be wound up by Court. |
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Company
when deemed unable to pay its debts. |
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Transfer
of winding up proceedings to District Court. |
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Withdrawal
and transfer of winding up from one District Court to another. |
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Power
of High Court to retain winding up proceedings in District Court. |
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Jurisdiction
of High court under sections 435, 436 and 437 to be exercised at any
time and at any stage. |
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Provisions
as to applications for winding up. |
439A |
Statement of affairs to he filed on winding up of a company. |
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Right
to present winding up petition where company is being wound up voluntarily
or subject to Court's supervision. |
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Commencement
of winding up by Court. |
441A |
Levy and collection of cess on turnover or gross receipts of companies. |
441B |
Crediting proceeds of cess to Consolidated Fund of India. |
441C |
Rehabilitation Fund. |
441D |
Application of Fund. |
441E |
Power to call for information. |
441F |
Penalty for non-payment of cess. |
441G |
Refund of fund in certain cases. |
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Power
of Court to stay or restrain proceedings against Company. |
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Powers
of Court on hearing petition. |
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Order
for winding up to be communicated to Official Liquidator and Registrar. |
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Copy
of winding up order to be filed with Registrar. |
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Suits
stayed on winding up order. |
446A |
Responsibility of directors and officers to submit to Tribunal audited books and accounts. |
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Effect
of winding up order. |
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Appointment
of Official Liquidator. |
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Official
Liquidator to be Liquidator. |
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Appointment
and powers of provisional liquidator. |
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General
provision as to liquidators. |
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Style
etc., of liquidator. |
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Receiver
not to be appointed of assets with liquidator. |
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Statement
of affairs to be made to Official Liquidator. |
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Report
by Official Liquidator. |
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Custody
of company's property. |
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Powers
of liquidator. |
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Discretion
of liquidator. |
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Exclusion
of certain time in computing periods of limitation. |
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Provision
for legal assistance to liquidator. |
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Exercise
and control of liquidator's powers. |
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Books
to be kept by liquidator. |
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Audit
of liquidator's accounts. |
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Control
of Central Government over liquidators. |
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Appointment
and composition of committee of inspection. |
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Constitution
and proceedings of committee of inspection. |
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Power
of Court to stay winding up. |
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Settlement
of list of contributories and application of assets. |
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Delivery
of property to liquidator. |
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Payment
of debts due by contributory and extent of set-off. |
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Power
of Court to make calls. |
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Payment
into bank of moneys due to company. |
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Moneys
and securities paid into Bank to be subject to order of Court. |
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Order
on contributory to be conclusive evidence. |
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Power
to exclude creditors not proving in time. |
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Adjustment
of rights of contributories. |
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Power
to order costs. |
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Power
to summon persons suspected of having property of company. etc. |
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Power
to order public examination of promoters, directors, etc. |
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Power
to arrest absconding contributory. |
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Saving
of existing powers of Court. |
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Dissolution
of Company. |
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Order
made in any Court to be enforced by other Courts. |
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Appeals
from orders. |
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Voluntary
winding up. |
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Circumstances
in which company may be wound up voluntarily. |
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Publication
of resolution to wind up voluntarily. |
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Commencement
of voluntary winding up. |
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Effect
of voluntary winding up on status of company. |
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Declaration
of solvency in case of proposal to wind up voluntarily. |
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Provisions
applicable to a members' voluntary winding up. |
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Power
of company to appoint and fix remuneration of Liquidators. |
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Board's
powers to cease on appointment of a liquidator. |
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Power
to fill vacancy in office of liquidator. |
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Notice
of appointment of liquidator to be given to Registrar. |
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Power
of liquidator to accept shares, etc., as consideration for sale of
property fo company. |
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Duty
of liquidator to call creditors' meeting in case of insolvency. |
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Duty
of liquidator to call general meeting at end of each year. |
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Final
meeting and dissolution. |
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Alternative
provisions as to annual and final meetings in case of insolvency. |
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Provisions
applicable to a creditors' voluntary winding up. |
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Meeting
of creditors. |
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Notice
of resolutions passed by creditors' meeting to be given to Registrar. |
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Appointment
of liquidator. |
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Appointment
of committee of inspection. |
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Fixing
of liquidators' remuneration. |
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Board's
powers to cease on appointment of liquidator. |
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Power
to fill vacancy in office of liquidator. |
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Application
of section 494 to a creditors' voluntary winding up. |
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Duty
of liquidator to call meetings of company and of creditors' at the
end of each year. |
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Final
meeting and dissolution. |
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Provisions
applicable to every voluntary winding up. |
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Distribution
of property of company. |
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Application
of section 454 to voluntary winding up. |
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Powers
and duties of liquidator in voluntary winding up. |
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Body
corporate not to be appointed as liquidator. |
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Corrupt
inducement affecting appointment as liquidator. |
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Power
of Court to appoint and remove liquidator in voluntary winding up. |
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Notice
by liquidator of his appointment. |
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Arrangement
when binding on company and creditors. |
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Power
to apply to Court to have questions determined or powers exercised. |
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Application
of Liquidator to Court for public examination of promoters, directors,
etc. |
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Costs
of voluntary winding up. |
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Repealed. |
