220. Settling list of contributories, debts and calls

(1) At any time after a winding-up order has been made, the Court —
(a) shall settle a list of contributories, with power to rectify the register of members in all cases where rectification is required, and shall cause the Company's property to be collected and applied in discharge of its liabilities;
(b) may make an order on any contributory for the time being on the list of contributories to pay, in the manner directed by the order, any money due from him to the Company, exclusive of any money payable by him by virtue of any call;
(c) may make calls on all or any of the contributories for the time being settled on the list of the contributories to the extent of their liability, for payment of any money which the Court considers necessary to satisfy the Company's debts and liabilities, and the expenses of the winding-up, and for the adjustment of the rights of the contributories among themselves and make an order for payment of any calls so made; and
(d) shall adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled to it.
(2) In a winding-up by the Court, the powers of the Court described in subsection (1) are discharged by the liquidator as an officer of the Court, subject to its control.
(3) In a voluntary winding-up, the liquidator may exercise the Court's powers described in subsection (1).