515
203.-(1) The liquidator may, with the sanction follow- General ing (that is to say)-
scheme of
may be
(a) in the case of a winding up by the court with liquidation the sanction either of the court or of the com- sanctioned. mitree of inspection:
8 Edw. 7 g.
9 s. 214.
(b) in the case of any winding up subject to super- vision, with the sanction of the court; and (e) in the ease of a voluntary winding up, with the sanction of an extraordinary resolution of the company,
do the following things or any of them :-
*
(1) Pay any classes of creditors in full; (77) Make any compromise or arrangement with ereditors or persons claiming to be ereditors, or having or alleging themselves to have any claim, present or future, certain or contingent, ascer- tained or sounding only in damages against the company, or whereby the company may be rendered Hable;
(7) Compromise all calls and liabilities to calls,
debts, and liabilities capable of resulting i debts, and all claims, present or future, certain or contingent, ascertained or sounding only in damages, subsisting or supposed to subsist between the company and a contributory, or alleged contributory, or other debtor or person apprehending liability to the company, and all questions in any way relating to or affecting the assets or the winding up of the company, on such terms as may be agreed, and take any security for the discharge of any such call, debt, liability or claim, and give a complete discharge in respect thereof.
(2) In the case of a winding up by the court the exer- eise by the liquidator of the powers of this section shall be subject to the control of the court, and any creditor or contributory may apply to the court with respect to any of those powers,
against de- linquent directors, &e. th. s. 215.
204.-(1) Where in the course of winding up a con- Power of pany it appears that any person who has taken part in the court to as- formation or promotion of the company, or any past or tess damages present director, manager, or liquidator, or any oflicer of the company, has misapplied or retained or become liable or accountable for any money or property of the company, or been guilty of any misleasure or breach of trust in relation to the comp my, the cart may, on the application of the official receiver, or of the liquidator, or of any creditor or contributory, examine into the conlust of the promoter, director, maner, liquidator, or officer, and compel him to repay or restore the money or property or any part thereof respectively with interest at such rate as the court thinks just, or to contribute such summ to the assets of the company by way of compensation in respect of the misapplication, retainer, misfeasance, or breach of trust as the court thinks just.
(2) This section shall apply notwithstanding that the offence is one for which the offender may he criminally responsible.
(3) Where in the case of a winding up an order for payment of money is made under this section, the order shall be deemed to be a final judgment within the meaning of paragraph (7) of subsection (1) of section three of the Ordinance Bankruptcy Ordinance, 1891.
No. 7 of 1891,
demeanor. 7b. s. 216.
205. If any director, officer, or contributory of any Falsification company being wound up destroys, mutilates, alters, or of books mis- falsifies any books, papers, or securities, or makes or is privy to the making of any false or fraudulent entry in any register, book of account, or dornment belonging to the company with intent to defraud or deceive any person, he shall be guilty of a misdemeanor,
206.-(1) If it appears to the court in the course of a Prosecution winding up by or subject to the supervision of the court of delinquent that any past or present director, manager, officer, or directors, &e. member of the company has been guilty of any offence in
Ib. s. 217.