State Act
47
Section 47. Board’s powers to cease on appointment of liquidator.
The Maharashtra Non-trading Corporations Act
Act no. 26 of 19591959In forceMaharashtra (State Act)
47. Board’s powers to cease on appointment of liquidator.— On the appointment of a liquidator, all the powers of the Board of directors and secretaries and treasurers and manager if there be any of these, shall cease, except for the purpose of giving notice of such appointment to the Registrar in pursuance of section 40 or in so far as the corporation in general meeting or the liquidator may sanction the continuance thereof.