Section 492 - Power to fill vacancy in office of liquidator. - Companies Act, 1956

Power to fill vacancy in office of liquidator. 492. (1) If a vacancy occurs by death, resignation or otherwise in the office of any liquidator appointed by the company, the company in general meeting may, subject to any arrangement with its creditors, fill the vacancy. (2) For that purpose, a general meeting may be convened by any contributory, or by the continuing liquidator or liquidators, if any. (3) The meeting shall be held in the manner provided by this Act or by the articles, or in such other manner as the [1] [Tribunal] may, on application by any contributory or by the continuing liquidator or liquidators, determine. ------------------------------------------- Notes: [1] Substituted for "Court" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified.