Amendment status not verified — confirm the current text below against the official source.
The Liquidator appointed under section 107, shall have power subject to the rules and the general supervision, control and direction, of the Registrar, - a. to institute and defend any suit and other legal proceeding civil or criminal, on behalf of the society, in the name of his office ; b. to carry on the business of the society, so far as may be necessary for the beneficial winding up of the same ; c. to sell the immovable and movable property and actionable claims of the society by public auction or private contract, with power to transfer the whole or part thereof to any person or body corporate, or sell the same in parcels ; d. to raise, on the security of the assets of the society any money required ; e. to investigate all claims against the society and subject to the provisions of the Act, to decide questions on priority arising out such claims, and to pay any class or classes of creditors in full or rateable according to the amount of such debts, the surplus being applied in payment of interest from the date of liquidation at a rate to be approved by the Registrar, but not exceeding the contract rates ; f. to make any compromise or arrangement with creditors or persons claiming to be creditors or, having or alleging themselves to have any claim, present or future, whereby the society may be rendered liable ; g. to compromise all calls or liabilities to calls and debts and liabilities capable or resulting in debts and all claims present or future certain or contingent, subsisting or supposed to subsist, between the society and contributory or alleged contributory or other debtor or person apprehending liability to the society, and all questions in any way relating to or affecting the assets or the winding up of the society, on such terms as may be agreed, and take any security for discharge of any such call, liability, debt or claim, and give a complete discharge in respect thereof; h. to determine from time to time, after giving an opportunity to answer the claim, the contribution to be made or remaining to be made by the members or past members or by the estate, nominees, heirs or legal representative of deceased members, or by any officers or the estate or nominees, heirs, or legal representatives of a deceased officer to the asset of the society such contribution being inclusive of debts due from such members or officers ;