Duty to convene annual meetings requires liquidator to report to company and creditors; failure attracts prescribed fine. The liquidator must call a general meeting of the company and a meeting of creditors at the end of the first and each succeeding year of a winding up, or within any permitted extended period, and lay before those meetings an account of his acts and dealings and a prescribed statement of the conduct and position of the winding up; failure to comply for each default attracts a prescribed monetary fine.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duty to convene annual meetings requires liquidator to report to company and creditors; failure attracts prescribed fine.
The liquidator must call a general meeting of the company and a meeting of creditors at the end of the first and each succeeding year of a winding up, or within any permitted extended period, and lay before those meetings an account of his acts and dealings and a prescribed statement of the conduct and position of the winding up; failure to comply for each default attracts a prescribed monetary fine.
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