ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART X - WINDING UP
DIVISION 2 - WINDING UP BY THE COURT
Subdivision (1) - General

 
Section 220. As to payment of preliminary costs, etc., by petitioner (other than company or liquidator).
 
Section 220. As to payment of preliminary costs, etc., by petitioner (other than company or liquidator). (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) The persons, other than the company itself or the liquidator thereof, on whose petition any winding up order is made, shall at their own cost prosecute all proceedings in the winding up until a liquidator has been appointed under this Part.

(2) The liquidator shall, unless the Court orders otherwise, reimburse the petitioner out of the assets of the company the taxed costs incurred by the petitioner in any such proceedings.

(3) Where the company has no assets or not sufficient assets, and in the opinion of the Minister any fraud has been committed by any person in the promotion or formation of the company or by any officer of the company in relation to the company since the formation thereof, the taxed costs or so much of them as is not so reimbursed may, with the approval in writing of the Minister, to an extent specified by the Minister but not in any case exceeding seven hundred and fifty ringgit, be reimbursed to the petitioner out of moneys provided by Parliament for the purpose.

As to costs when order made on petition of company or liquidator

(4) Where any winding up order is made upon the petition of the company or the liquidator thereof, the costs incurred shall, subject to any order of the Court, be paid out of the assets of the company in like manner as if they were the costs of any other petitioner.