Clause 243

At any time after an order for winding up has been made the Court may, on the application of the liquidator or of any creditor or contributory and on proof to the satisfaction of the Court that all proceedings in relation to the winding up ought to be stayed, make an order staying the proceedings either altogether or for a limited time on such terms and conditions as the Court thinks fit.[U.K.s. 256.][Aust. s. 243.]

On any such application the Court may, before making an order, require the liquidator to furnish a report with respect to any facts or matters which are in his opinion relevant.

An office copy of every order made under this section shall be lodged by the company with the Registrar and with the Official Receiver within fourteen days after the making of the order.

Any person who fails to comply with the provisions of subsection (3) of this section shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding two hundred and fifty dollars and also to a default penalty.