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SCHEDULES

SCHEDULE 4Powers of Liquidator in a Winding Up

PART IIIPowers Exercisable Without Sanction in any Winding Up

6Power to sell any of the company's property by public auction or private contract with power to transfer the whole of it to any person or to sell the same in panels.

7Power to do all acts and execute, in the name and on behalf of the company, all deeds, receipts and other documents and for that purpose to use, when necessary, the company's seal.

8Power to prove, rank and claim in the bankruptcy, insolvency or sequestration of any contributory for any balance against his estate, and to receive dividends in the bankruptcy, insolvency or sequestration in respect of that balance, as a separate debt due from the bankrupt or insolvent, and rateably with the other separate creditors.

9Power to draw, accept, make and indorse any bill of exchange or promissory note in the name and on behalf of the company, with the same effect with respect to the company's liability as if the bill or note had been drawn, accepted, made or indorsed by or on behalf of the company in the course of its business.

10Power to raise on the security of the assets of the company any money requisite.

11Power to take out in his official name letters of administration to any deceased contributory, and to do in his official name any other act necessary for obtaining payment of any money due from a contributory or his estate which cannot conveniently be done in the name of the company. In all such cases the money due is deemed, for the purpose of enabling the liquidator to take out the letters of administration or recover the money, to be due to the liquidator himself.

12Power to appoint an agent to do any business which the liquidator is unable to do himself.

13Power to do all such other things as may be necessary for winding up the company's affairs and distributing its assets.