Chapter 1 Chapter 1 — General
172. Alternative modes of winding-up
The winding-up of a Company may be either voluntary or by the Court.
173. Concurrent proceedings(1) Subject to subsection (2), there may be a winding-up of a Company and a receiver appointed to the property of the Company at the same time.(2) When a Company is being wound up —(a) any agency of a receiver for the Company is terminated;(b) the liquidator's powers with respect to the property of the Company excludes any property to which a receiver has been appointed for the period of the receiver's appointment; and(c) the liquidator may exercise any of his powers under Part 3 (Winding-Up) notwithstanding the appointment of a receiver.