Section 292 - Exercise and control of Company Liquidator's powers

Company Liquidator powers governed by creditors' directions, advisory committee hierarchy, meeting rights, and tribunal review mechanisms.

Company Liquidator powers are exercised in administering assets and distributions with regard to directions from creditors or contributories at general meetings or by an advisory committee; creditor or contributory directions at a general meeting override advisory committee directions in case of conflict. The Liquidator may summon meetings to ascertain wishes and must convene meetings when so directed or properly requested. Any person aggrieved by the Liquidator's act or decision may apply to the Tribunal, which may confirm, reverse or modify the act or decision and make further orders it considers just.