Section 637 CAMA 2020
Section 637 Companies and Allied Matters Act is about Appointment of committee of inspection. It is under Chapter 22 (Voluntary winding-up resolutions for and commencement of voluntary winding-up) of the Act.
(1) The creditors, at the meeting to be held under section 635 of this Act or at any subsequent meeting, may, if they think fit, set up a Committee of Inspection consisting of not more than five persons, and if such a committee is set up, the company may, either at the meeting at which the resolution for voluntary winding-up is passed or at any time subsequently in general meeting,appoint such number of persons as they think fit to act as members of the committee not exceeding five in number :
Provided that the creditors may, if they think fit, resolve that all or any of the persons so appointed by the company shall not be members of the Committee of Inspection, and if the creditors so resolve, the persons mentioned in the resolution shall not, unless the Court otherwise directs, be qualified to act as members of the committee, and on any application to the Court under this provision the Court may, if it thinks fit, appoint other persons to act as such members in place of the persons mentioned in the resolution.
(2) Subject to the provisions of this section and to general rules made under this Act, the provisions of section 597 of this Act (except subsection(1)), shall apply with respect to a committee of inspection appointed under this section as they apply with respect to a Committee of Inspection appointed in a winding-up by the Court.
