CPA · Business Corporations Act
Part 17 — Liquidation and Dissolution
220 Effect of liquidation order
corporation,
(a) the corporation continues in existence but shall cease to
carry on business, except the business that is, in the opinion
of the liquidator, required for an orderly liquidation, and
(b) the powers of the directors and shareholders cease and vest
in the liquidator, except as specifically authorized by the
Court.
(2) The liquidator may delegate any of the powers vested in the
liquidator by subsection (1)(b) to the directors or shareholders.
1981 cB-15 s212