Section 486

without the authority under paragraph (b), exercise any of the general powers specified in Part I of the Twelfth Schedule;

and

with the authority of the Court or the committee of inspection, exercise any of the powers specified in Part II of the Twelfth Schedule.

The exercise by the liquidator in a winding up by the Court of the powers conferred by this section is subject to the control of the

Court and any creditor or contributory may apply to the Court with respect to any exercise or proposed exercise of any of those powers.

Companies 467