Division 1 Provision of security by liquidator
Division 2 Statement of affairs
Division 3 Power of liquidator to compromise debt
Division 4 Payments in and out of Companies Liquidation Account
Division 5 Company’s dealings and transactions with liquidator or committee of inspection
Division 6 Keeping and audit of liquidator’s books and accounts
Division 7 Investment of assets of company and realisation of investment
Division 8 Unclaimed or undistributed assets and outstanding assets of defunct company
Division 9 Duties of liquidator upon resignation or release
| Division 5 — Company’s dealings and transactions with liquidator or committee of inspection |
| Restrictions relating to liquidator’s remuneration |
| Dealings with assets |
| 37. The liquidator or a member of the committee of inspection of a company must not, while acting as the liquidator or a member of the committee, directly or indirectly purchase any of the company’s assets, except with the leave of the Court. |
| Restriction on purchase of goods by liquidator |
| 38. Where the liquidator carries on the business of the company, the liquidator must not, except with the sanction of the Court, enter into a transaction to purchase any goods from any person for the carrying on of that business, if the liquidator would obtain any portion of the profit (if any) received by that person from the transaction. |
| Committee of inspection not to make profit |
39.—(1) Except with the sanction of the Court, a member of the committee of inspection of a company is not, directly or indirectly, entitled to —
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