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COMPANY.

has given security, cause notice of the appointment to be gazetted. The expense of gazetting notice of the appointment shall be paid by the Liquidator, but may be charged by him on the assets of the Company.

Advertisement of appointment.

64. Form 36. Every appointment of a Liquidator or committee of inspection shall be advertised by the Liquidator in such manner as the Court directs immediately after the appointment has been made and the Liquidator has given the required security.

Death, &c. of Liquidator.

65.. In case of the death, removal, or resignation of a Liquidator another may be appointed in his place in the same manner as directed in the case of a first appointment, and the Official Receiver shall on the request of not less than one tenth in value of the creditors or contributories summon meetings for the purpose of determining whether or not the vacancy shall be filled.

Style of Official Receiver when he is Liquidator.

66. When the Official Receiver is Liquidator of a Company he shall be styled "Official Receiver and Liquidator."

Security by Liquidator of Special Manager.

Standing security to Board of Trade.

67. Form 35. In the case of a Special Manager or a Liquidator other than the Official Receiver the following Rules as to security shall be observed, namely:—

(1) The security shall be given to such officers or persons and in such manner as the Board of Trade inay from time to time direct.

(2) It shall not be necessary that security shall be given in each separate winding up; but security may be given either specially in a particular winding up or generally to be available for any winding up in which the person giving security may be appointed either as Liquidator or Special Manager.

(3) The Board of Trade shall fix the amount and nature of such security, and may from time to time, as they think fit, either increase or diminish the amount of special or general security which any person has given.

(4) The certificate of the Board of Trade that a Liquidator or Special Manager has given security to their satisfaction shall be placed on the file of proceedings.

(5) The cost of furnishing the required security by a Liquidator or Special Manager shall be borne by him personally, and shall not be charged against the assets of the Company as an expense incurred in the winding up.

Failure to give or keep up security.

68.—(1) If a Liquidator or Special Manager fails to give the required security within the time stated for that purpose in the order appointing him or any extension thereof, the Official Receiver shall report such failure to the Court, who shall thereupon rescind the order appointing the Liquidator or Special Manager.