(1) This section applies where, in the case of a creditors' voluntary winding up, a liquidator has been nominated by the company.
[(1A) The exercise by the liquidator of the power specified in paragraph 6 of Schedule 4 to this Act (power to sell any of the company's property) shall not be challengeable on the ground of any prior inhibition.]
(2) The powers conferred on the liquidator by section 165 shall not be exercised, except with the sanction of the court, [before—
(a) the company's creditors under section 100 nominate a person to be liquidator, or
(b) the procedure by which
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