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of <h1>Ban on liquidator or advisory committee buying company assets during winding up; unauthorised purchases can be set aside</h1> The provision prohibits the Company Liquidator and any member of the advisory committee, while acting in that capacity in a winding up, from directly or indirectly purchasing any part of the company's assets, whether personally or through an employer, partner, clerk, agent, servant, or relative, unless leave of the Tribunal is obtained. Any purchase made in contravention may be set aside by the Tribunal on an application made by the liquidator, or by a creditor or contributory, as applicable, and the Tribunal may also make such order as to costs as it considers fit.
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