The duties which the Act imposes on the court relating to the collection of the company’s assets and their application in discharge of the company’s liabilities are discharged by the liquidator as an officer of the court subject to its control.

In the discharge of the liquidator’s duties, the liquidator, for the purposes of acquiring and retaining possession of the company’s property, has the same powers as a receiver appointed by the High Court, and the court may on the application of the liquidator enforce such acquisition or retention accordingly.