No. 7/2018 INSOLVENCY Cap. 6:07 (4) Whenever the Master refuses to appoint as liquidator a person elected as such, or the Court has set aside an appointment of a liquidator by the Master, the Master must direct the liquidator appointed in terms of section 41 to convene a meeting of creditors of the insolvent estate for the purpose of electing another person as liquidator in the place of such person or liquidator. (5) The notice of the meeting referred to in subsection (4) must(a) state that the purpose of the meeting is to elect a liquidator; (b) set out the reason why the Master has refused to appoint the person elected as liquidator, or state that the appointment of the liquidator has been set aside by the Court, as the case may be; (c) be published in the Gazette not less than 14 days and not more than 21 days before the date fixed for the meeting; (d) be sent by liquidator's notice to every creditor who has proved a claim against the estate. (6) The meeting mentioned in subsection (4) must be held as if it were the continuation of a first meeting of creditors held after an adjournment. (7) If the Master refuses to appoint as liquidator a person elected at a meeting convened in terms of subsection (4), he or she must notify that person by direct notice and state the reason for his or her refusal and may, if it is necessary for the proper administration of the estate, appoint as liquidator any person whom the Master regards as a suitable person for appointment. 76 Appointment of liquidator and security (1) When a final liquidation order has been made and a person elected as liquidator has given security to the satisfaction of the Master for the proper performance of his or her duties and lodged an affidavit stating that he or she is not disqualified in terms of section 74, the Master must, subject to section 75, appoint him or her as liquidator and issue him or her with a letter of appointment, which is valid throughout Zimbabwe. (2) After the receipt of his or her letter of appointment the liquidator must make known his or her appointment and his or her address by notice published in the Gazette. (3) The costs to the liquidator of giving security must be included as part of the costs of the liquidation, up to the maximum amount which the Master considers reasonable. (4) The Master may at any time call for additional security,or reduce the security given by the liquidator if the liquidator has to the satisfaction of the Master accounted for any property in the estate and the reduced security will suffice to indemnify the estate or the creditors against any maladministration by the liquidator of the remaining property in the estate. 77 Joint liquidators to act jointly ( 1) Where more than one liquidator has been appointed in respect of an insolvent estate the liquidators must act jointly in performing their functions as liquidators and each of them is jointly and severally liable for every act performed by them jointly. (2) Whenever liquidators of an insolvent estate disagree on any matter relating to the estate, they must refer the matter to the Master who must determine the question in issue or give directions as to the procedure to be followed for the determination thereof. 256