This also is new.
SECTION 303.
Question proposed : " That Section 303 stand part of the Bill."
Would the Minister consider whether he might want to except from subsection (1) a liquidator appointed by the court? It may be in the interests of the company to carry on its business without notification in certain cases. I completely agree that the only case where it would be safe to do it would be when it would be done under order of the court. It might possibly, in practice, be beneficial to the company, the creditors, the members and everyone, provided you had a court guarantee that the liquidator was carrying on the business of the company for the purposes of the winding up.
The primary consideration here should be the creditors and prospective creditors of the company. In fairness, they should have a full knowledge of the type of company they are dealing with if it is in liquidation, whether voluntary or by court order.
Question put and agreed to.