COMPANIES ACT - 1963 (ACT 179)

    Section - 254 - Cessation of Directors' Powers

    On the appointment of a liquidator for the purposes of a private liquidation all the powers of the board of directors shall vest in the liquidator and the powers and authority of every director shall cease, save in so far as the company in general meeting or the liquidator sanctions the continuance thereof and except so far as is necessary to enable the directors to prepare statements and accounts of the company.