Companies Act (Cap. 386), article 244

244. (1) When the liquidator of a company which is being wound up by the court has realis ed all the property of the comp any, or so much thereof as can, in hi s opinion, be realised without needlessly protracting the liquidation, and has distributed a f inal payment, if any, to the creditors, and has adjusted the rights of the contributories among themselves, and made a final return, if an y, to the contributories, or has resigned, the court shall, on the liquidator’s application, cause a report to be prepared on the liquidator’s accounts a t the company’s expense. On being satisf ied that the liquidator has complied with the requirements of this Act and such other requirements, if any, as may be laid down by it and, after taking into consideration the report and any objection wh ich may be raised by any creditor or contributory or person interes ted, the court shall proceed to re lease the liquidator from his appointment. ( 2) The Registrar of Courts shall forthwith deliver a notice of the release to the Regis trar for registration. 164 CAP. 386.] COMP ANIES Chapter IV - Liquidation Commi ttees in a winding up by the court Determination whether committee is to be appointed.