Companies Act (Cap. 386)
Companies Act (Cap. 386), article 254
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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