Part II
ADVISORY COMMITTEE
37. Company Liquidator to report result of meeting.-
(1) As soon aspossible but not later than seven days after the holding of the meeting ofthe creditors and contributories, the Company Liquidator shall report theresult thereof to the Tribunal and such report shall be in Form WIN 23.
(2) Where the creditors and contributories have agreed upon theconstitution and composition of the advisory committee and the personswho are to be members thereof, an advisory committee shall, subject tothe provisions of sub-section (2) of section 287, be constituted inaccordance with such decision, and the Company Liquidator shall set outin his report the names of the members of the committee so constituted.
(3) After being directed by the Tribunal to constitute an advisory committeewhere the creditors and contributories have not agreed upon thecomposition of the advisory committee and the persons who are to bemembers thereof, the Company Liquidator shall, at the time of makinghis report as aforesaid, apply to the Tribunal for directions as to whatshall be its composition, and who shall be the members thereof, and theTribunal shall thereupon fix a date for the consideration of the report ofthe Company Liquidator and the notice of the date so fixed shall beadvertised by the Company Liquidator in such manner as the Tribunalshall direct not less than seven days before the date so fixed, and theadvertisement shall be in Form WIN 24.
(4) On the date fixed for hearing of the said application for directions, theTribunal may, after hearing the Company Liquidator and any creditor orcontributory who may appear, decide as to who would be the members ofthe said advisory committee or pass such orders or give such directionsin the matter, as the Tribunal may think fit.