s.53Powers of a liquidator
53
Section 53Part 7 — Dissolution of Registered Society other than Credit Union

Powers of a liquidator

←→ Navigate  ·  Click subsection badges to collapse  ·  Press ? for help

A liquidator appointed under section 52 shall, subject to the guidance and control of the Registrar and to any limitations imposed by the Registrar by order under section 64, have power —
to institute and defend suits and other legal proceedings by and on behalf of the society by that person’s name or office and to appear in court as a litigant in person on behalf of the society;
to refer disputes to arbitration;
to determine the contribution to be made by the members and past members and by estates of deceased members of the society respectively to the assets of the society;
to investigate all claims against the society and, subject to this Law, to decide questions of priority arising between claimants;
to determine, from time to time, by what persons and in what proportion the costs of the liquidation are to be borne;
to take possession of the books, documents and assets of the society;
to give such directions, in regard to the collection of the assets of the society and the disposal of the books and documents of the society, as may appear to the liquidator to be necessary for winding up the affairs of the society;
to appoint a day, by proclamation, before which creditors whose claims are not already recorded in the books of the society shall state their claims for admission or be excluded from any distribution made before such claims have been proved;
to compromise any claim by or against the society;
to sell the property of the society;
to call such general meetings of the society as may be necessary;
to carry on the business of the society, so far as may be necessary for winding it up beneficially; and
to arrange for the distribution of the assets of the society in a convenient manner when a scheme of distribution has been approved by the Registrar.
A liquidator appointed under subsection (1) shall, insofar as such powers are necessary for carrying out the purposes of subsection (1), have all the powers of a Judge to compel the attendance and examination of witnesses and the production of documents.

Cross References