Amendment status not verified — confirm the current text below against the official source.
After eXpiry of the period for lappeal against the order made under sub-section (1) of section 102 or where the appeal has been dismissed the order for Winding up shall be efl'ective “and shall operate in favour of all the creditors and of all the contributories Efieet of or- der of win- ding up, «13 Bar of suit in winding up and dis; solution matters. Audi t of Liquidator’s accounts. Termination of 1iquida~ tion procee— dings. of the Society, as if it had been made on the joint petition. of creditors and contributories of the society. When a winding up order becomes " efi'ective, the Liquidator fishall proceed to realise the assets of the Society by sale or otherwisaand no dispute shall be commenced of, if pending at the date of the‘winding up order, shall be proceeded With, against the Society” except'iby leave of the Registrar and subject to such terms as the Registrar may; impose. The Registrar, may of his own metion, however, entertainer (iispose 01" any dispute by or against the Society.