Section 430
Application of provisions of winding up of a company under judicial management
ActIn forceProvision 430 of 768
Section 430
(2)
Notwithstanding subsection (1), the Court shall have the power—
(a)
to order that any other sections in Subdivision 4 of
Division 2 of Part IV shall apply to a company under judicial management as if the sections in Subdivision 4 of
Division 2 of Part IV apply in a winding up by the Court; and
(b)
any reference to the liquidator shall be taken as a reference to the judicial manager and any reference to a contributory shall be taken as a reference to a member of the company.
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