7. Approval of liquidator
Where, having regard to ¾
(a) the property, debts and liabilities of an incorporated association; and
(b) the interests of the creditors and members of an incorporated association,
the Commissioner is satisfied that a person is a fit and proper person to exercise and perform the powers and duties of liquidator of an incorporated association, the Commissioner may by instrument in writing approve of the person acting as liquidator of the incorporated association subject to such conditions as he thinks fit and may in like manner vary or revoke any such approval or conditions.