Section 280

Power of [1][Commission] to enforce compromises and arrangements.—(1) Where the [2][Commission] makes an order under section 279 sanctioning a compromise or an arrangement in respect of a company, it may, at the time of making such order or at any time thereafter, give such directions in regard to any matter or make such modifications in the compromise or arrangement as it may consider necessary for the proper working of the compromise or arrangement.

[3][(2) If the Commission is satisfied that a compromise or arrangement sanctioned under section 279 cannot be worked satisfactorily with or without modification, it may, initiate proceedings for the winding up of the company; and]

[4][(3) Omitted].

[1] The word “Court” substituted with word “Commission” through Companies (Second Amendment) Ordinance, 2020 dated 07-07-2020

[2] The word “Court” substituted with word “Commission” through Companies (Second Amendment) Ordinance, 2020 dated 07-07-2020

[3] Substituted through Companies (Second Amendment) Ordinance, 2020 dated 07-07-2020

[4] Omitted through Companies (Second Amendment) Ordinance, 2020 dated 07-07-2020