(a ) the law relating to insolvent estates shall, in so far as they are applicable, apply, mutatis mutandis, with respect to any matter not specially provided for in this Act; (b ) a secured creditor and the liquidator shall have the same right respectively to take over such creditor’s security as a secured creditor and a trustee would have under the law relating to insolvent estates; (c) the cession of a book debt shall only be valid against a liquidator in the same circumstances in which it would, in terms of the provisions of the law relating to insolvent estates, be valid against a trustee. Provisions Applicable to Every Mode of Winding Up 271 Application of sections Sections two hundred and seventy-two to two hundred and ninety-eight shall apply in relation to every company being wound up by whatever mode. 272 Persons disqualified for appointment as liquidator (1 ) No person shall be elected or appointed a liquidator of a company that is being wound up unless he is registered in terms of the Estate Administrators Act [Chapter 27:20]: Provided that an unregistered person may be appointed a provisional liquidator by the court in terms of section two hundred and eight. (1a) The following persons shall be disqualified from being elected or appointed a liquidator of a company that is being wound up— (a ) a person who does not reside in Zimbabwe; (b ) a person declared under subsection (2) of section two hundred and seventy-three to be incapacitated for appointment as liquidator while such incapacity lasts; (c) a person who is the subject of an order under this Act disqualifying him as a director of any company; (d ) a person who has, by reason of misconduct, been removed by the court from an office of trust; (e) a person who, in order to exercise any influence upon his election as liquidator of the company, has — (i) procured or allowed the wrongful insertion or omission of the name of any person in or from any list or schedule required by this Act; or (ii) procured or allowed the wrongful or inaccurate statement of the claim of any creditor or co ntributory; or (iii) directly or indirectly given or agreed to give any person any consideration; or (iv) offered or agreed with any person to abstain from investigating any transactions of or relating to the company or of any of its officers; or (v) split any claim, or allowed the splitting of any claim, in such a manner as to increase the number or value of votes of the person whose claim has been so split; (f) a person who at any time during the twelve months immediately preceding the date of sequestration acted as the bookkeeper, accountant or auditor of the company. [Subsection substituted by section 70 of Act No. 16 of 1998] (2 ) Any person who, in order to obtain or in return for the vote of any creditor or contributory or in order to exercise any influence upon his election as a liquidator of a company, does any of the acts mentioned in subparagraph (i), (ii), (iii), (iv) or (v) of paragraph (e) of subsection (1a) shall be guilty of an offence and liable to a fine not exceeding level seven or to imprisonment for a period not exceeding one year or to both such fine and such imprisonment. [Subsection as amended by section 70 of Act No. 16 of 1998] (3 ) Any person who procures or tries to procure the appointment as liquidator of any person, knowing that such person is disqualified for such appointment under the terms of subsection (1 ), shall be guilty of an offence and liable to a fine not exceeding level seven or to imprisonment for a period not exceeding one year or to both such fine and such imprisonment. [Section as amended by Act No. 22 of 2001] 273 Power of court to declare person disqualified from being liquidator or to remove liquidator (1 ) The court, on the application of the Master or person having an interest in the winding up— (a ) may declare that any person proposed or appointed as liquidator is disqualified under section two hundred and seventy -two from holding the office and, if he has been appointed, may remove him therefrom; (b ) may remove any liquidator from his office upon any of the following grounds— (i) absence from Zimbabwe, ill-health or any other factor tending to interfere with the performance of his duties as liquidator; (ii) that he has accepted or offered or agreed to accept or has solicited from any auctioneer, agent or other person employed on behalf of the company any share of the commission or remuneration or of any other benefit whatever accruing to such auctioneer, agent or other person; (iii) misconduct, including any failure to satisfy a lawful demand of the Master or of a commissioner appointed by the court; (iv) failure to perform any of the duties imposed on him by this Act;