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<h1>Official Liquidator Manages Asset Distribution per Section 467(1) and Rule 643(2) for Winding-Up Companies.</h1> The Official Liquidator, acting as an officer of the Court, is responsible for collecting and distributing the assets of a company undergoing court-ordered winding-up. This role involves discharging the duties outlined in section 467(1) of the Companies Law, which includes applying the company's assets to settle its liabilities. The Official Liquidator operates under the Court's supervision and in accordance with the proviso in section 643(2) of the Company Court Rules, 1959.