Section 424, The Companies Act, 2009

(1) The liquidator may– (a) in the case of a members’ voluntary winding up, with the sanction of a special resolution of the company, and (b) in the case of a creditors’ voluntary winding up, with the sanction of the court or the committee of inspection (or, if there is no such committee, a meeting of the creditors), exercise any of the powers given by paragraphs (d), (e), and (f) of subsection (1) of section 371 to a liquidator in a winding up by the court. (2) The liquidator may, without sanction, exercise any of the other powers given by this Act to the liquidator in a winding up (3) The liquidator may– (a) exercise the court’s power of settling a list of contributories and the list shall be prima facie evidence of the liability of the persons named in it to be contributories; (b) exercise the court’s power of making calls; (c) summon general meetings of the company for the purpose of obtaining its sanction by special resolution or for any other purpose he may think fit. 300 301 Fixing of liquidators’ remuneration and cesser of directors’ powers. Power to fill vacancy in office of Liquidator to call meetings of company and others at the end of each year. Distribution of property of company. Powers and duties of liquidator in voluntary. (4) The liquidator shall pay the company’s debts and adjust the rights of the contributories among themselves. (5) When several liquidators are appointed, any power given by this Act may be exercised by any one or more of them as may be determined at the time of their appointment or, in default of such determination, by any number not less than two.