(1)
The liquidator or any contributory or creditor may apply to the Court to determine any question arising in the winding-up of a company, to exercise, as respects the enforcing of calls or any other matter, all or any of the powers which the Court might exercise if the company were being wound up by the Court.
(2)
If the Court is satisfied that the determination of the question or the required exercise of power is just and beneficial, it may give effect wholly or partially to the application on such terms and conditions as it deems fit, or make such other order as the case may require.
(3)
A copy of an order made under this section staying the proceedings in the winding-up, shall forthwith be forwarded by the company, or otherwise as may be prescribed, to the Commission, which shall make a minute of the order in its books relating to the company.