Duties of liquidator

(1) A liquidator shall, upon his appointment in accordance with this Part and upon the commencement of a winding-up and dissolution, proceed– (a) to identify all assets of the company; (b) to identify all creditors of and claimants against the company; (c) to pay or provide for the payment of, or to discharge, all claims, debts, liabilities and obligations of the company; (d) to distribute any surplus assets of the company to the members in accordance with the (e) to prepare or cause to be prepared a statement of account in respect of the actions and transactions of the liquidator; and (f) to send a copy of the statement of account to all members if so required by the plan of dissolution required by section 102. (2) A transfer, including a prior transfer, described in section 9(2), of all or substantially all of the assets of a company incorporated under this Act for the benefit of the creditors and 106 members of the company, is sufficient to satisfy the requirements of sub-section (1)(c) and (d).