304. Act of liquidator valid, etc.

Question 1

304. Act of liquidator valid, etc.

Answer 1

General overview
[304.01] This section provides that the acts of a liquidator are valid notwithstanding any subsequent discovery of defects in his appointment or qualifications. The intention of this provision is to ensure that justice would be maintained and that the acts taken by a liquidator in the best interest of a company in liquidation cannot later be set aside merely by reason of any defect in his appointment