# Companies Act 1948, Section 285: Power of company to appoint and fix remuneration of liquidators.


(1) The company in general meeting shall appoint one or more liquidators for the purpose of winding up the affairs and distributing the assets of the company, and may fix the remuneration to be paid to him or them.
(2) On the appointment of a liquidator all the powers of the directors shall cease, except so far as the company in general meeting or the liquidator sanctions the continuance thereof.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/section/285 (the official version)
Page: https://openlegislation.uk/companies-act-1948/section-285
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.