• 10 Marks

BCL – L1 – Q92 – Legal implications relating to companies in difficulty or in crisis

State the effect on the Board of Directors when a liquidator is appointed in private liquidation.

State what happens to the Board of Directors of a company limited by shares on the appointment of a Liquidator in respect of private liquidation.

The Board is dissolved forthwith. The functions of the Board cease and transfers to the liquidator. The liquidator does not run the company as a going concern.

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