PARTS II TO VIICOMPANY INSOLVENCY; COMPANIES WINDING UP
PART VWINDING UP OF COMPANIES REGISTERED UNDER THE COMPANIES ORDERS
CHAPTER IVCREDITORS' VOLUNTARY WINDING UP
Cesser of directors' powers
89. On the appointment of a liquidator, all the powers of the directors cease, except so far as the liquidation committee (or, if there is no such committee, the creditors) sanction their continuance.