38. Filling - up of vacancy in advisory committee.
(1)On a vacancy occurring in the advisory committee the Company Liquidator shall forthwith summon a meeting of creditors or of contributors as the case may require to recommend for filling the vacancy and the meeting may by resolution recommend for reappointing the same or propose for appointing another creditor or contributory as the case may to fill the vacancy:Provided that if the Company Liquidator having regard to the position in the winding up is of the opinion that it is unnecessary for the vacancy to be filled he may apply to the Tribunal and the Tribunal may make an order that the vacancy shall not be filled or shall not be filled except in such circumstances as may be specified in the order.(2)The continuing members of the advisory committee if not less than two may act notwithstanding any vacancy in the said committee.(3)Where the creditors or contributors as the case may be fail to fill the vacancy for whatever reason the Company Liquidator shall forthwith report such failure to the Tribunal and Tribunal may by order fill such vacancy.
