Companies Act, 1973 (Act No. 61 of 1973)

Chapter XIV: Winding-up of Companies

Liquidators

382. Plurality of liquidators, liability and disagreement
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1)When two or more liquidators have been appointed they shall act jointly in performing their functions as liquidators and shall be jointly and severally liable for every act performed by them jointly.

 

2)Whenever two or more liquidators disagree on any matter relating to the company of which they are liquidators, one or more of them may refer the matter to the Master who may thereupon determine the question in issue or give directions as to the procedure to be followed for the determination thereof.