THE COMPANIES ORDINANCE, 1972

Liquidators

211.—(1) Subject to the provisions of this section, the court may appoint a liquidator provisionally at any time after the presentation of a winding up petition, and either the Official Receiver or any other fit person may be appointed.

(2) Where a liquidator is provisionally appointed by the court, the court may restrict his powers in such manner as it thinks fit by the order appointing him or by a subsequent order, but, subject to any restriction so imposed, the provisional liquidator shall have the same powers and be subject to the same liabilities as a liquidator appointed after the making of a winding up order.

212.—(1) In a winding up by the court, a-ny disposition of the assets of the company and any transfer of shares, or alteration in the status of the members or shareholders of the company, made after the commencement of the winding up, shall, unless the court otherwise orders, be void.

(2) An application may be made to the court to sanction a transaction to which this section relates either before or after the making of a winding up order.

213.—(1) On the making of a winding up order, a copy of the order shall forthwith be forwarded by the company, or otherwise as may be prescribed, to the Registrar, who shall make a minute thereof in his records relating to the company.

(2) A winding up order shall contain as part thereof an inhibition upon all dispositions of and dealings with land of which the company is the registered proprietor under the Land Registration Ordinance, 1965, except dispositions and dealings by the liquidator in exercise of the powers conferred on him by this Ordinance, and upon production of a copy of the winding up order, the officer responsible for keeping the Land Register shall enter the inhibition contained therein against every parcel of land of which the company is the registered proprietor.