Procedure at sale: company liquidator or Tribunal approved agent must conduct sales by auction, sealed tenders or electronic bidding.

Rule 166 requires that every sale in a company winding-up be held by the Company Liquidator unless the Tribunal directs use of an approved agent or auctioneer, and that all sales follow terms and conditions approved by the Tribunal and be conducted by public auction, sealed tenders, electronic bidding, or as the Tribunal directs.

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