Appointment of liquidator

(1) When the Registrar passes an order under section 105 for the winding up of a society, he may appoint a person to be the Liquidator of the society and fix his remuneration. The appointment of Liquidator shall be notified by the Registrar in the Official Gazette. (2) On the issue of the order, the officer of the society shall hand over to the Liquidator the custody and control of all the properties, effects and actionable claims to which the society is or appears to be entitled, and of all books, records and other documents pertaining to the business of the society and, shall have no access to any of them. (3) The person appointed under this section as Liquidator shall, subject to the general control of the Registrar, exercise all or any of the powers mentioned in section 108. The Registrar may remove such person and appoint another in his place, without assigning any reason. (4) The whole of the assets of the society shall, on the appointment of Liquidator under this section, vest in such Liquidator, and notwithstanding anything contained in any law for the time being in force, if any immovable property is held by a Liquidator on behalf of the society, the title over the land shall be complete as soon as the mutation of the name of the office is effected, and no Court shall question the title on the ground of dispossession, want of possession or physical delivery of possession. (5) In the event of the order of winding up being vacated in appeal, the person appointed as Liquidator shall hand over the properties, effects and actionable claims and books, records and other documents of the society to the officer who had delivered the same to him. The acts done, and the proceedings taken by the Liquidator, shall be binding on the society, and such proceedings shall, after the order has been cancelled in appeal under section 107, be continued by the officers of the society.