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Order for payment or delivery of property against person examined under section 245 of Principal Act.
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127.—The Principal Act is hereby amended by the insertion before section 246 of the following section—
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“245A.—If in the course of an examination under section 245 it appears to the court that any person being examined—
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(a) is indebted to the company, or
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(b) has in his possession or control any money, property or books and papers of the company,
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the court may order such person—
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(i) to pay to the liquidator the amount of the debt or any part thereof, or
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(ii) to pay, deliver, convey, surrender or transfer to the liquidator such money, property or books and papers or any part thereof,
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as the case may be, at such time and in such manner and on such terms as the court may direct.”.
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Declaration of Solvency
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