Section 468. Payment of preliminary costs by petitioner

(1) Where a person, other than a company itself or a liquidator, presents a petition under section 464 and a winding up order is made, that person shall at his own cost, conduct all the proceedings in the winding up until a liquidator has been appointed under this Division.

(2) The liquidator shall reimburse the petitioner out of the assets of the company the taxed costs incurred by the petitioner in any such proceedings unless the Court orders otherwise.

(3) Where the company has no assets or insufficient assets, and in the opinion of the Minister any fraud has been committed by any person in the promotion or formation of the company or by any officer of the company in relation to the company since the formation, the taxed costs or so much of the taxed costs as is not so reimbursed may be reimbursed to the petitioner out of moneys provided by the Parliament for the purpose, with the approval specified by the Minister in writing to an amount not exceeding three thousand ringgit.

(4) Where any winding up order is made upon the petition of the company or the liquidator the costs incurred shall, subject to any order of the Court, be paid out of the assets of the company in like manner as if they were the costs of any other petitioner.