Under a Voluntary Winding Up, a Liquidator Cannot

question 7

Multiple Choice

Under a voluntary winding up, a liquidator cannot:

• A) make concessions on any debts except as under s. 477(2A) of the Corporation Act.
• B) exercise the power of the court of fixing a time when debts and claims must be proved.
• C) exercise any power the Corporation Act confers on a liquidator in a winding up by the court.
• D) convene a general meeting of the company to obtain agreement for matters as the liquidator thinks fit.

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Definitions:

Dendrite

The branched projections of a neuron that act to conduct the electrochemical stimulation received from other neural cells to the cell body, or soma.

Neuron

A nerve cell that is the basic building block of the nervous system, responsible for transmitting information throughout the body.

Terminal Buttons

The small knoblike structures at the end of an axon that release neurotransmitters to send signals to other neurons.

Neurotransmitters

Chemical substances in the nervous system that transmit signals across a synapse from one neuron to another, influencing both mental and physical functions.