Section 423

Power to make rules.—(1) The Supreme Court may, in consultation with the Courts or, where the Supreme Court advises the Federal Government to do so, the Federal Government may in consultation with the Courts, from time to time, make rules, consistent with this Act, concerning the mode of proceedings to be held for winding up a company in a Court and in the courts subordinate thereto, and for voluntary winding up (both members and creditors), for the holding of meetings of creditors and members in connection with proceedings under section 279 of this Act, and for giving effect to the provisions as to the reduction of the capital and the scheme of reorganisation of a company and generally for all applications to be made to the Court and all other proceedings or matters coming within the purview or powers or duties of the Court under the provisions of this Act and shall make rules providing for all matters relating to the winding up of companies which, by this Act, are to be prescribed.

(2) Without prejudice to the generality of the foregoing powers, such rules may enable or require all or any of the powers and duties conferred and imposed on the Court by this Act in respect of the matters following, to be exercised or performed by the official liquidator, and subject to control of the Court, that is to say, the powers and duties of the Court in respect of:

(a) holding and conducting meetings to ascertain the wishes of creditors and contributories;

(b) settling lists of the contributories and rectifying the register of members where required, and collecting and applying the assets;

(c) requiring delivery of property or documents to the liquidator;

(d) making calls;

(e) fixing a time within which debts and claims must by proved:

Provided that the official liquidator shall not, without the special leave of the Court, rectify the register of members, and shall not make any call without the special leave of the Court.