(v) any other good cause. (2 ) The court may, in respect of any person removed by it — (a ) under paragraph (a) of subsection (1 ) as a person disqualified for reasons set out in paragraph (e) of subsection (1a) of section two hundred and seventy-two ; or [Paragraph as amended by section 70 of Act No. 16 of 1998] (b ) under subparagraph (ii), (iii) or (iv) of paragraph (b ) of subsection (1); declare such person to be incapable of being appointed a liquidator under this Act during his lifetime or any other period. (3 ) The Master shall give notice in the Gazette of the removal of any liquidator from his office in terms of this section. 274 Liquidator to give security (1 ) In every winding up of a company each liquidator, including a co-liquidator or a provisional liquidator, shall furnish security to the satisfaction of the Master for the due performance of his duties as such. Until he has furnished the Master with such security he shall not be capable of acting as liquidator, co-liquidator or provisional liquidator, as the case may be; and if the security is not furnished within a time to be fixed by the Master he shall be deemed to have resigned his office: Provided that no security will be required in the case of a member’s voluntary winding up if the company so resolves. (2 ) The cost of giving the aforesaid security, provided it is furnished, in the prescribed form, if any, by a fidelity company or an association approved by the Master, shall be a cost in the winding up. (3 ) When a liquidator has, in the course of winding up a company, accounted to the Master to his satisfaction for any property belonging to the company, the Master may consent to a reduction of the security mentioned in subsection (1) if he is satisfied that the reduced security will suffice to indemnify the company, its creditors and contributors against any maladministration by the liquidator of the remaining property belonging to the company. 275 Co-liquidator (1 ) The Master may, whenever he considers it desirable, appoint a co -liquidator to act jointly with any other liquidator. (2 ) When two or more liquidators have been appointed they shall act jointly in performing their functions as liquidators and each of them shall be jointly and severally liable for every act performed by them jointly. 276 Title and acts of liquidators (1 ) A liquidator shall be described by the style of the liquidator of the particular company in respect of which he is appointed and not by his individual name. (2 ) The liquidator shall proceed forthwith to recover and reduce into possession all the assets and property of the company, movable and immovable. (3 ) Every liquidator shall give the Master such information and such access to and facilities for inspecting the books and documents of the company and generally such aid as may be requisite for enabling that officer to perform his duties under this Act. (4 ) The acts of a liquidator shall be valid notwithstanding any defects that may afterwards be discovered in his appointment or qualification. 277 General meetings to hear liquidator’s report The liquidator shall, as soon as practicable, and, unless with the consent of the Master, not later than three months after the date of his appointment, submit to general meetings of creditors and contributories a report— (a ) as to the amount of capital issued, subscribed and paid up and the estimated amount of assets and liabilities; and (b ) if the company has failed, as to the causes of the failure; and (c) whether in his opinion further inquiry is desirable as to any matter relating to the promotion, formation or failure of the company or the conduct of its business; and (d ) whether the company has kept the books and accounts required by section one hundred and forty and, if not, in what respect such requirement has not been complied with; and (e) as to the progress and prospects of the liquidation; and (f) as to any other matter which he may think fit or in regard to which he may desire the directions of the creditors or the contributories. 278 Books to be kept by liquidator and inspection thereof (1 ) From the beginning of his appointment and during the whole period of his office the liquidator shall punctually keep proper books and records of all transactions of the liquidation. (2 ) The Master may at any time in writing order the liquidator to produce the said books or records for inspection.