Section 246 — Companies Act 1993: Interim liquidator

246 Interim liquidator (1) If an application has been made to the Court for an order that a company be put into liquidation, the Court may, if it is satisfied that it is necessary or expedient for the purpose of maintaining the value of assets owned or managed by the company, appoint a named person, or an Official Assignee for a named district, as interim liquidator. (2) Subject to subsection (3) of this section, an interim liquidator has the rights and powers of a liquidator to the extent necessary or desirable to maintain the value of assets owned or managed by the company. (3) The Court may limit the rights and powers of an interim liquidator in such manner as it thinks fit. (4) The appointment of an interim liquidator takes effect on the date on which, and at the time at which, the order appointing that interim liquidator is made. (5) The Court must record in the order appointing the interim liquidator the date on which, and the time at which, the order was made. (6) If any question arises as to whether on the date on which an interim liquidator was appointed an act was done or a transaction was entered into or effected before or after the time at which the interim liquidator was appointed, that act or transaction is, in the absence of proof to the contrary, deemed to have been done or entered into or effected, as the case may be, after that time. Subsections (4) to (6) were inserted, as from 26 April 1999, by section 5 Companies Amendment Act 1999 (1999 No 19).