COMPANIES ACT - 1963 (ACT 179)

    Section - 255 - Powers of Liquidator

    (1) A liquidator in a private liquidation may exercise all the powers of the liquidator in an official winding up under the Bodies Corporate (Official Liquidations) Act, 1963 (Act 180).

    (2) When several liquidators are appointed, any power given by this Code may be exercised by such one or more of them as may be determined at the time of their appointment, or, in default of such determination, by any number not less than two.

    (3) The Court shall have the same powers in relation to the liquidator in a private liquidation as are by the Bodies Corporate (Official Liquidations) Act, 1963 (Act 180) conferred upon it in relation to official liquidations; and the liquidator may apply to the Court for directions in relation to any matter arising in connection with the performance of his functions or to exercise all or any of the powers which the Court might exercise if the company were being wound up under the said Act and, on any such application, the Court may give such directions or make such order as the Court thinks just.