Article 65 - Appointment of Liquidator

(1) In a Members' Voluntary Winding Up, the Company in general meeting shall appoint one or more Liquidators for the purpose of winding up the Company's affairs and distributing its assets.
(2) On the appointment of a Liquidator under Article 65(1) all the powers of the directors cease, except so far as the Company in general meeting or the Liquidator sanctions their continuance.
(3) In these Regulations:
(A) a reference to the appointment of a Liquidator includes a reference to the appointment of a number of persons acting as the Liquidator of a Company; and
(B) if more than one person is acting as Liquidator, subject to an order of the QFC Court to the contrary, all the functions of the Liquidator may be exercised by any or all of persons appointed.