274.
| (1) A liquidator appointed by the court may resign or, on cause shown, be removed by the court. |
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| (2) Where a person other than the official receiver is appointed liquidator, he shall receive such salary or remuneration by way of percentage or otherwise as the court may direct, and, where more such persons than one are appointed liquidators, their remuneration shall be distributed among them in such proportions as the court directs. |
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| (3) A vacancy in the office of a liquidator appointed by the court shall be filled by the court. |
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| (4) Where more than one liquidator is appointed by the court, the court shall declare whether any act required or authorized to be done under the provisions of this Act by the liquidator, is to be done by all or any one or more of the persons so appointed. |
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| (5) Subject to the provisions of section 361, no act of a liquidator shall be or shall be deemed to be invalid by reason only of any defect in the appointment or qualification of such liquidator. |
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Sri Lanka Consolidated Acts