Companies Act (Cap. 386), article 245

245. (1) When a winding up order has been made by the court, the separate meeting of the creditors referred to in article 229 summoned for the purpose of choosing a liquidator in place of the official receiver shall determine further whether or not to appoint a liquidation committee to act with the liquidator and who are to be the members of the committee, if appointed. (2) Where a liquidation committee has not been appointed in accordance with the provisions of sub-article (1), the liquidator, other than the official receiver, may at any time, if he thinks fit, summon a separate meeting of the company’s creditors for the purpose of determining whether such a committee should be appointed and, if it is so determined, of appointing it. (3) Where a liquidation committee has not been appointed in accordance with the provisions of sub-article (1), the liquidator, other than the official receiver, shall summon a meeting of creditors for the appointment of such a committee if he is requested to do so by one-fourth in value of the company’s creditors. Constitution and proceedings of liquidation committee. Amended by: IV. 2003.100.