91 Appointment of liquidator

Chapter III
Members' Voluntary Winding Up

91  Appointment of liquidator

(1)     In a members' voluntary winding up, the company in general meeting shall appoint one or more liquidators for the purpose of winding up the company's affairs and distributing its assets.

(2)     On the appointment of a liquidator all the powers of the directors cease, except so far as the company in general meeting or the liquidator sanctions their continuance.

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