Section 167: Meetings to ascertain wishes of creditors or contributories
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
167. Meetings to ascertain wishes of creditors or contributories
(1) The Court may, in the winding up of a company, have regard to the
wishes of the creditors or contributories and, if it thinks fit, for the purpose
of ascertaining those wishes, direct meetings of the creditors or contributories to be called, held and conducted in such manner as the Court directs,
and may appoint a person to act as chairman of any such meeting and to
report the result thereof to the Court.
(2) For the purposes of subsection (1), regard shall be had—
(a) in the case of creditors, to the value of each creditor’s debt;
(b) in the case of contributories, to the number of votes conferred
on each contributory by this Act or the constitution of the company.
(3) A liquidator who calls a meeting of creditors or shareholders shall call
such a meeting in accordance with the First Schedule or, if applicable, the
Fifth Schedule to the Companies Act, as the case may be.
(4) Nothing in this section limits or prevents a liquidator from exercising
his discretion in carrying out his functions and duties under this Act.