Provisions Applicable to Every Mode of Winding Up Company Unable to Pay its Debts 266. 267. 268. 269. 270. Application of sections. Summoning directors and others to attend meetings of creditors. Examination of directors and others at meeting of creditors. Voidable and undue preferences. Application of certain provisions of law relating to insolvent estates. 271. 272. 273. 274. 275. 276. 277. 278. Provisions Applicable to Every Mode of Winding Up Application of sections. Persons disqualified for appointment as liquidator. Power of court to declare person disqualified from being liquidator or to remove liquidator. Liquidator to give security. Co-liquidator. Title and acts of liquidators. General meetings to hear liquidator’s report. Books to be kept by liquidator and inspection thereof. 279. 280. 281. 282. 283. 284. 285. Liquidators’ Accounts Liquidator to lodge with Master accounts in winding up. Application to court to compel liquidator to lodge account. Inspection of accounts. Objections to account by interested parties. Confirmation of account. Distribution of estate. Liquidator to lodge receipts for dividends or pay dividends to Guardian’s Fund Leave of Absence or Resignation of Liquidator 286. Leave of absence or resignation of liquidator. 287. Power of company to provide for employees on cessation or transfer of business. 288. Power of liquidator to make over assets to employees. Miscellaneous Provisions in Winding Up 289. Voting at meetings of creditors and contributories. 290. Books of company to be evidence. 291. Application of assets, and costs of winding up. 292. Payment of money deposited with Master. 293. Disposal of books and papers of company. Miscellaneous Powers of Court 294. Meetings to ascertain wishes of creditors and contributories. 295. Power of court to declare dissolution of company void. 296. Review by court. 297. Special commissioners for taking evidence. 298. Orders to be sent to Master and Registrar. Judicial Management Instead of Winding Up 299. Circumstances in which provisional judicial management order may be obtained. 300. Requirements for provisional judicial management order. 301. Contents of provisional judicial management order. 302. Custody of property and appointment of provisional judicial manager. 303. Duties of provisional judicial manager. 304. Meetings convened by Master during provisional judicial management. 305. Return day of provisional judicial management order. 3 06. Duties of final judicial manager. 307. Application of assets during judicial management. 308. Remuneration of judicial managers. 309. Pre -judicial management creditors may consent to preference. 310. Voidable and undue preferences in judicial management. 311. Period of judicial management excluded in determining preference under mortgage bond. 312. Position of auditor during judicial management. 313. Application of certain provisions of winding up to judicial management. 314. Cancellation of final judicial management order.