Board powers cease on appointment of a liquidator; continuance allowed if committee of inspection or creditors sanction. On the appointment of a liquidator the powers of the board of directors cease except insofar as the committee of inspection, or if there is no such ... Summary
Board powers cease on appointment of a liquidator; continuance allowed if committee of inspection or creditors sanction.
On the appointment of a liquidator the powers of the board of directors cease except insofar as the committee of inspection, or if there is no such committee, the creditors in general meeting, sanction the continuance thereof.
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