Section 392 - Power of Tribunal to enforce compromise and arrangement.

Tribunal power to supervise compromises and arrangements allows modification and, if necessary, winding up when arrangements fail.

When the Tribunal sanctions a compromise or arrangement under section 391 it may supervise implementation, give directions and make modifications as necessary for proper working; if the Tribunal is satisfied the arrangement cannot be worked satisfactorily with or without modifications it may, on its own motion or on application by any interested person, order winding up of the company, and such order shall be deemed to be a winding up order under the winding up provisions. The provision applies, so far as may be, to companies with previously sanctioned arrangements before the 2002 amendment.