(1)

Where the Registrar has made an order under section 137 for the winding-up of a registered society, he may appoint-a Liquidator for the purpose and fix his remuneration.

(2)

A Liquidator shall on appointment take into his custody or under his control all the property, effects and actionable claims to which the society is or appears to be entitled and shall take such steps as he may deem necessary or expedient to prevent loss or deterioration of or damage to property, effects and claims.

(3)

Where an appeal is preferred under clause (a) of sub-section (2) of section 152, an order of winding-up of a registered society made under sub-section (1) of section 137 shall trot operate thereafter until the order is confirmed in appeal:

Provided that the Liquidator shall continue to have custody or control of the property, effects and actionable claims mentioned in sub-section (2) and have authority to take the steps referred to in that sub-section.

(4)

Where an order of winding-up of a registered society is set aside on appeal, the property, effects and actionable claims of the society shall re-vest in the society.