BODIES CORPORATE (OFFICIAL LIQUIDATIONS) ACT - 1963 (ACT 180)

Section - 33 - Avoidance of Assignment and Floating Charges

(1) Any conveyance or assignment by a company of all its property to trustees for the benefit of all its creditors shall be void to all intents.

(2) Any property covered by the preceding subsection or a floating charge invalidated under section 90 of the Companies Code, 1963 (Act 179) shall be dealt with as part of the general assets of the company.