Ninth Schedule

[Subsection 414(4)]

POWERS OF JUDICIAL MANAGER

The judicial manager may exercise all or any of the following powers:

(a) to take possession of, collect and get in the property of the company and, for that purpose, to take such proceedings as he seems expedient;

(b) to sell or otherwise dispose of the property of the company by public auction or private contract;

(c) to borrow money and grant security for the borrowing over the property of the company;

(d) to appoint a solicitor or accountant or other professionally qualified person to assist him in the performance of his functions;

(e) to bring or defend any action or other legal proceedings in the name and on behalf of the company;

(f) to refer to arbitration any question affecting the company;

(g) to effect and maintain insurances in respect of the business and property of the company;

(h) to use the company’s seal;

(i) to do all acts and to execute in the name and on behalf of the company any deed, receipt or other document;

(j) to draw, accept, make and endorse any bill of exchange or promissory note in the name and on behalf of the company;

(k) to appoint any agent to do any business which he is unable to do himself or which can more conveniently be done by an agent and to employ and dismiss employees;

(l) to do all such things, including the carrying out of works, as may be necessary for the realisation of the property of the company;

(m) to make any payment which is necessary or incidental to the performance of his functions;

(n) to carry on the business of the company;

(o) to establish subsidiaries of the company;

(p) to transfer to subsidiaries of the company the whole or any part of the business and property of the company;

(q) to grant or accept a surrender of a lease or tenancy of any of the property of the company, and to take a lease or tenancy of any property required or convenient for the business of the company;

(r) to make any arrangement or compromise on behalf of the company;

(s) to call up any uncalled capital of the company;

(t) to rank and claim in the bankruptcy, insolvency, sequestration or liquidation of any person indebted to the company and to receive dividends, and to accede to trust deeds for the creditors of any such person;

(u) to make or defend an application for the winding up of a company;

(v) to do all other things incidental to the exercise of the foregoing powers.