Power of Central Government to make rules relating to winding up.

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..... Act, are to be prescribed, and may make rules providing for all such matters, as may be prescribed. (2) In particular, and without prejudice to the generality of the forgoing power, such rule may provide for all or any of the following matters, namely:____ (i) as to the mode of proceedings to be held for winding up a company by the Tribunal; (ii) for the voluntary winding up of companies, wh .....

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..... ll be proved. (3) All rules made by the Supreme Court on the matters referred to in this section as it stood immediately before the commencement of the Companies (Second Amendment) Act, 2002, and in force at such commencement, shall continue to be in force, in so far as they are not inconsistent with the provisions of this Act, till such time the rules are made by the Central Government and any r .....

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..... 3, [1][sub-section (3) of section 550, section 552 and sub-section (3) of section 555]; and (b) may make rules consistent with the Code of Civil Procedure, 1908 (5 of 1908)___ (i) as to the mode of proceedings to be had for winding up a company in High Courts and in Courts subordinate thereto; (ii) for the voluntary winding up of companies, whether by members or by creditors; (iii) for the .....

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..... assets; (c) the payment, delivery, conveyance, surrender or transfer of money, property, books or papers to the liquidator; (d) the making of calls; and (e) the fixing of a time within which debts and claims shall be proved; to be exercised or performed by the Official Liquidator or any other liquidator as an officer of the Court, and subject to the control of the Court: Provided that the .....

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..... ommencement." --------------------------------------- Notes:- 1. Substituted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 212, for certain words. 2. The words "and the sub-division of the shares of a company" omitted by the Companies (Amendment) Act, 1960,Act 65 of 1960, section 212. 3. Inserted by the Companies (Amendment) Act, 1960, Act 65 of 1960, section 212. -
Stat .....

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