If an administrator, liquidator, provisional liquidator, or administrative receiver is appointed for more than one person, the appointment must state whether required or authorised acts are to be done by all of them or…
accountingaccounting recordsadjournmentadministrationadministration of company affairsadministration orderadministration ordersadministrative receiversadministrative receivershipadministrator dutiesadministrator noticeadministrator proposalsaffidavitsagencyannual accountsannual general meetingsannual meetingsapplication of Actapplication of provisionsappointment of liquidatorappointmentsappointments and retirementarrangements with creditorsarticles of associationasset collection and distributionasset custodyasset disposalasset distributionasset enforcementasset saleasset seizureasset vestingassociationsattachmentauditauditor liabilityauditorsauthenticationbank deposit of receiptsbank depositsbank payment of company debtsbank paymentsbankruptcybankruptcy rulesbanksbeneficial ownershipbeneficial ownership compliancebeneficial ownership information accessbeneficial ownership registerbinding effectboard appointmentsboard compositionboard decision validityboard governanceboard 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instrumentssolvency declarationspecial manager appointmentstatement of affairsstatutory applicationstatutory corporationsstatutory interpretationstrike offsubsidiariessubsidiary companiessubsidiary dissolutionsuccession on death or bankruptcysupervisorsupply conditionstable alterationtax information sharingtitle to sharestransaction at undervaluetransactionstransactions at under valuetransfer of interest on deathtrustsunclaimed assetsunregistered companiesvoluntary arrangementvoluntary arrangementsvoluntary winding upvoluntary winding-upvotingvoting procedurevoting rightswinding upwinding-upwinding-up filingswinding-up petitions
Jurisdiction
Tanzania
Structure
470 provisions
Citation
The Companies Act
Dates
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“If an administrator, liquidator, provisional liquidator, or administrative receiver is appointed for more than one person, the appointment must state whether required or authorised acts are to be done by all of them or by one or more of them.”
If an administrator, liquidator, provisional liquidator, or administrative receiver is appointed for more than one person, the appointment must state whether required or authorised acts are to be done by all of them or by one or more of them. Acts done by an individual while acting as supervisor, administrator, liquidator, provisional liquidator, or administrative receiver of a company remain valid even if there is a defect in the person’s appointment, nomination, or qualifications. When a company is in specified insolvency states, a supplier may require the office-holder to personally guarantee payment for post-effective-date gas, electricity, water, or telecoms supply, but not as a way to force payment of old charges. Directors may propose a voluntary arrangement, unless the company is already under administration or winding up. If a nominee is used, that nominee must be qualified as an insolvency practitioner. An administrator or liquidator may also make the proposal in the specified situations. If the nominee is not the company’s liquidator or administrator, they must report to the court on whether meetings should be called, and the proposal-maker must give the nominee the required documents.
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