Companies Act (Cap. 386)

Companies Act (Cap. 386), article 254

Official PDF on legislation.mt

254. (1) The liquidator or provisional administrator may, if satisfied that the nature of the estate or business of the comp any, or the interests of the creditors or contributories generally, req uire the appointment of a special manager of the estate or business of t he company other than himself, apply to the court, and the court m ay, COMP ANIES [CAP. 386. 167 on such application, by order ap point a special manager of the said estate or business to act during such time as the court may dir ect, with such functions and powers as may be entrusted to him by th e court in the order appointing him. The special manager shall restrict his activities to the said functions and powers and to such acts as may be necessary o r consequential thereto. (2) The special manager shall give an account of his management as the court may direct. (3) The special manager shall receive such remuneration as may be fixed b y the court. Fixing of time for proofs of debt. Amended by: IV . 2003.101.

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Text read from the consolidated PDF published by Legislation Malta. Tables, figures and marginal notes may be incomplete or out of place: the official PDF is authoritative. General information, not legal, tax or accounting advice.