Removal of liquidator: Tribunal may remove for misconduct, fraud, incompetence and recover losses and provide replacement. The Tribunal may remove a provisional liquidator or company liquidator for misconduct, fraud or misfeasance, professional incompetence or failure to exercise due care and diligence, inability to act, or conflict of interest or lack of independence, provided reasons are recorded and the liquidator is given a reasonable opportunity of being heard. On death, resignation or removal the Tribunal may transfer the work to another company liquidator, and where loss or damage is caused by fraud, misfeasance or lack of due care the Tribunal may recover such loss from the liquidator and pass other appropriate orders.