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Companies Act, 1973 (Act No. 61 of 1973)

Chapter XIV: Winding-up of Companies

Powers of Liquidators

388. Court may determine questions in voluntary winding-up

 

 

1) Where a company is being wound up voluntarily, the liquidator or any member or creditor or contributory of the company may apply to the Court to determine any question arising in the winding-up or to exercise any of the powers which the Court might exercise if the company were being wound up by the Court.

 

2) The Court may, if satisfied that the determination of any such question or the exercise of any such power will be just and beneficial, accede wholly or partly to the application on such terms and conditions as it may determine, or make such other order on the application as it thinks fit.