22Power of Court to restrain voluntary winding up of trustee company

22 Power of Court to restrain voluntary winding up of trustee company

(1)  So long as any estate in respect of which a trustee company is executor, administrator, or trustee remains in whole or in part unadministered, no person shall take any steps or proceedings to wind up the company voluntarily, except with the sanction of the Court.

(2)  A person who is interested in an estate to which subsection (1) relates, or who may have a claim in respect thereof, may apply to the Court, in a summary way, to restrain any director or shareholder from disposing of a share that the director or shareholder may hold in the company, or to restrain the winding up voluntarily of the company, and the Court has power to make such order in the matter as the circumstances of each case appear to the Court to require.