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Removal and replacement of liquidator, etc.

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X X X X Extracts X X X X

.... Liquidator, appointed from the panel on any of the following grounds, namely:- (a) misconduct, (b) fraud or misfeasance, (c) professional incompetence or failure to exercise due care and diligence in performance of the powers and functions; (d) inability to act as liquidator, (e) conflict of interest or lack of independence during the term of his appointment. (2) If any vacancy occurs ....

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Removal and replacement of liquidator, etc.