Section 280 — Power of Commission to enforce compromises and arrangements

(1) Where the Commission makes an order under section 279
sanctioning a compromise or an arrangement in respect of a company, it may, at
the time of making such order or at any time thereafter, give such directions in
regard to any matter or make such modifications in the compromise or arrangement
as it may consider necessary for the proper working of the compromise or
arrangement.

(2) If the Commission is satisfied that a compromise or arrangement
sanctioned under section 2 79 cannot be worked satisfactorily with or without
modification, it may, initiate proceedings for the winding up of the company.