Citizen Investment Trust Act, 2047 (1991)

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Section 56
Appointment of liquidator

(1) If the fund is dissolved according to section 55, a liquidator will be appointed from among the licensed persons according to the prevailing law.
(2) The work, duties and rights of the liquidator appointed in accordance with sub-section (1) shall be the same as those of the liquidator appointed in accordance with the Marriage Act, 2063.
(3) The liquidator shall receive the remuneration or allowances specified by the Government of Nepal from the fund.
Citizen Investment Trust Act, 2047 (1991)
Chapter - 7
Section 42: Staff arrangementSection 43: Technical SubcommitteeSection 43A: the Trustee may be appointed by the FundSection 44: Every director, executive director, advisor, technical sub-committee members and officers and employees of theSection 45: Power of the Government of Nepal to adjourn the CommitteeSection 46: Contact with the Government of Nepal TheSection 47: Annual ReportSection 48: The Government of Nepal may issue orders or instructionsSection 49: Nepal Rastra Bank may issue orders or instructionsSection 50: Monitoring and InspectionSection 51: XXXXXXSection 52: Special rights of the fundSection 52A: Special provisions regarding investment in fixed depositsSection 53: Security of Fund's Loan InvestmentSection 53A: BlacklistingSection 54: to maintain confidentialitySection 55: The fund may be dissolvedSection 56: Appointment of liquidatorSection 57: Order of priority for payment of liabilitiesSection 58: Penalty PunishmentSection 59: Power to make regulations TheSection 60: Can make procedures: