1085
18
(b) where any other action or proceeding
pending against the company, apply to the court having jurisdiction to wind up the company to restrain further proceedings in the action or proceeding;
and the court to which application is so made may. as the case may be, stay or restrain the proceedings accordingly on such terms as it thinks fit.
168. In a winding up by the court. any dis- Avoidance of position of the property of the company, including
dispositions of property, things in action, and any transfer of shares, or altera- &c. after tion in the status of the members of the company, commence made after the commencement of the winding up, ment of shall, unless the court otherwise orders, be void.
winding up.
19 & 20 Geo.
5.
s. 173.
23,
by Avoidance or of attach- of ments, &c.
19 & 20 Geo.
169. Where any company is being wound up the court, any attachment, sequestration, distress, execution put in force against the estate or effects the company after the commencement of the winding 5, c. 23, up shall be void to all intents.
Commencement of Winding Up.
s. 174.
170.--(1) Where before the presentation of a peti- Commence- tion for the winding up of a company by the court a ment of resolution has been passed by the company for winding up voluntary winding up, the winding up of the com- court.
by the pany shall be deemed to have commenced at the 19 & 20, Geo. time of the passing of the resolution, and unless the 5, c. 23. court, on proof of fraud or mistake, thinks fit other s. 175. wise to direct, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken
(2) In any other case, the winding up of a company by the court shall be deemed to commence at the time of the presentation of the petition for the winding up.
Consequences of Winding-up Order.
171. On the making of a winding-up order, a copy Copy of of the order must forthwith be forwarded by the order to be company, or otherwise as may be prescribed, to the forwarded registrar of companies, who shall make a minute thereof in his books relating to the company.
to registrar. 19 & 20 Geo. 5, c. 23. s. 176.
172. When a winding-up order has been inade, or a Actions provisional liquidator has been appointed, no action or stayed on proceeding shall be proceeded with or commenced winding-up against the company except by leave of the court, and order. subject to such terms as the court may impose.
19 & 20 Geo. 5, c. 23, s. 177.
173. An order for winding up a
company shall operate in favour of all the creditors and of all the Effect of contributories of the company as if made on the joint order.
winding-up petition of a creditor and of a contributory.
Official Receiver in Winding Up.
19 & 20 Geo
5, c. 23.
s. 178.
Official receiver in
174.-(1) For the purposes of this Ordinance SO far as it relates to the winding up of companies by the court the term "official receiver' means the official bankruptcy receiver, if any, attached to the court for bankruptcy to be official purposes, or if there is more than one such official receiver for receiver, then such one of them as the Governor winding-up may appoint, or, if there is no such official receiver, 19 & 20 Geo then an officer appointed for the purpose by the 5. c. 23,
Governor
(2) But, for the purposes of this Ordinance, so far as it relates to the winding up of China companies or Hong Kong China companies by or under the supervision of the Supreme Court for China, and so far as it relates to the voluntary winding-up of China companies and Hong Kong China companies by liquidators appointed to act within the limits of the China Orders in Council, "official receiver" shall mean any person appointed in that behalf by the judge of the Supreme Court for China.
purposes.
s. 179