Acts and Regulations

B-9.1 - Business Corporations Act

Section 145
Disposition versions

Full text
Role of liquidator and delegation of powers
145(1)If the Court makes an order for liquidation of a corporation,
(a) the corporation continues in existence but shall cease to carry on business, except the business that is, in the opinion of the liquidator, required for an orderly liquidation; and
(b) the powers of the officers, directors and shareholders cease and vest in the liquidator, except as specifically authorized by the Court.
145(2)The liquidator may delegate any of the powers vested in him by paragraph (1)(b) to the officers, directors or shareholders.
2000, c.9, s.19; 2023, c.2, s.155
Role of liquidator and delegation of powers
145(1)If the Court makes an order for liquidation of a corporation,
(a) the corporation continues in existence but shall cease to carry on business, except the business that is, in the opinion of the liquidator, required for an orderly liquidation; and
(b) the powers of the officers, directors and shareholders cease and vest in the liquidator, except as specifically authorized by the Court.
145(2)The liquidator may delegate any of the powers vested in him by paragraph (1)(b) to the officers, directors or shareholders.
2000, c.9, s.19
Role of liquidator and delegation of powers
145(1)If the Court makes an order for liquidation of a corporation,
(a) the corporation continues in existence but shall cease to carry on business, except the business that is, in the opinion of the liquidator, required for an orderly liquidation; and
(b) the powers of the officers, directors and shareholders cease and vest in the liquidator, except as specifically authorized by the Court.
145(2)The liquidator may delegate any of the powers vested in him by paragraph (1)(b) to the officers, directors or shareholders.
2000, c.9, s.19