ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART X - WINDING UP
DIVISION 3 - VOLUNTARY WINDING UP
Subdivision (4) - Provisions applicable to every Voluntary Winding up

 
Section 268. Act of liquidator valid, etc.
 
Section 268. Act of liquidator valid, etc. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) The acts of a liquidator shall be valid notwithstanding any defects that may afterwards be discovered in his appointment or qualification.

(2) Any conveyance, assignment, transfer, mortgage, charge or other disposition of a company's property made by a liquidator shall, notwithstanding any defect or irregularity affecting the validity of the winding up or the appointment of the liquidator, be valid in favour of any person taking such property bona fide and for value and without notice of such defect or irregularity.

(3) Every person making or permitting any disposition of property to any liquidator shall be protected and indemnified in so doing notwithstanding any defect or irregularity affecting the validity of the winding up or the appointment of the liquidator not then known to such person.\

(4) For the purposes of this section a disposition of property shall be taken as including a payment of money.