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member, and notice in writing of the institution the action or procceding having been served on the company by leaving the same at its princi- pal place of business, or by delivering it to the secretary, or some director, manager, or princi- pal officer of the company, or by otherwise serving the same in such manner as the court may approve or direct, the company has not within ten days after service of the notice paid, secured, or compounded for the debr or demand, or procured the netion or proceeding to be stayed, or indemnified the defendant to his reasoumble satisfaction against the action or proceeding, and against all costs, damages, and expenses to be incurred by him by reason of the same;
(c) If execution or other process issued on n judgment, decree, or order obtained in any court in favour of a creditor against the com- pany, or any member thereof as such, or any person authorised to be sued as nominal defend- aut on behalf of the company, is returned unsatisfied;
(7) If it is otherwise proved to the satis- faction of the court that the company is unable
to pay its debts,
(2) Nothing in this Part of this Ordinance shall affect the operation of any enactment which provides for any partnership, association, or company, being wound up, or being wound up as a company or as an unregistered company, under any enactment repealed by this Ordinance except that references in any such first-mentioned enactment to any such repealed enactment shall be read as references to the corresponding provision (if any) of this Ordinance.
247.--(1) In the event of an unregistered company Contribu- being wound up every person shall be deemed to be tories in a contributory who is liable to pay or contribute to winding up
of unregis- the payment of any debt or liability of the company, tered com- or to pay or contribute to the payment of any sum for the pany. adjustment of the rights of the members among themselves, & Edw. 7 c. or to pay or contribute to the payment of the costs and 69 s, 269. expenses of winding up the company, and every contribu- tory shall be liable to contribute to the assets of the company all sums due from him in respect of any such liability as aforesaid,
(2) In the event of the death, bankruptey, or insolvency, of any contributory, or marriage of any female contributory, the provisions of this Ordinance with respect to the personal representatives, heirs, and devisees of dercased contribu- tories, to the trustees of bankrupt or insolvent contributories. and to the liabilities of husbands and wives respectively, shall apply.
243. The provisions of this Ordinance with respect to Power of staying and restraining actions and proceedings against a court to stay company at any time after the presentation of a petition for or restrain
proceedings. winding up and before the making of a winding-up order 7%, 4, 270, shall, in the case of an unregistered company, where the application to stay or restrain is by a creditor, extend to actions and proceedings against any contributory of the company.
249. Where an order has been made for winding up an Actions unregistered company, no action or proceeding shall be stayed on proceeded with or commenced against any contributory of winding-up the company in respect of any debt of the company, except 1271. by leave of the court, and subject to such terms as the court may impose.
order.
cases. Th. s. 272.
250. If an unregistered company has no power to sue Directions as and be sued in a common name, or if for any reason it to property appears expedient, the court may by the winding-up order, in certain or by any subsequent order, direct that all or any part of the property, real and personal (including things in action), belonging to the company, or to trustees on its behalf, is to vest in the liquidator by his official name, and thereupon the property or the part thereof specified in the order shall