Section 52: Special Powers in Winding-Up Proceeding.

(1) Where the Court gives a decision against a body corporate in a debt recovery action under this Act, requiring the debtor company to pay any sum to the Corporation and such sum is not liquidated or paid over to the Corporation within 90 days from the date of the order for payment, the Corporation may apply to the court to issue a winding-up order against the debtor company.
(2) Where a winding-up order is made, the court may, on the application of the Corporation, appoint the official receiver or some other fit person to assume the office of a liquidator to wind-up the affairs of the debtor company.
(3) Any liquidator appointed pursuant to this Act shall have all the powers of a liquidator under the Companies and Allied Matters Act and shall perform his duties in accordance with that Act.
(4) An act, thing, directive or permission authorised or required to be done or given by the committee of inspection or by the creditors under the Companies and Allied Matters Act may be done or given by the court on the application of the Liquidator.
(5) Any winding-up order made against any debtor company under this Act shall be deemed to have been made under the Companies and Allied Matters Act and the provisions of the Companies and Allied Matters Act shall have effect with such modifications as are contained in this Act.