Saving of pending proceedings for winding up.
19 & 20 Geo. 5, c. 23, s. 383.
Saving of Ordinances Nos. 11 of 1907,
3 of 1908, and 32 of 1917.
Commence- ment of Ordinance
Sections 10, 114, 308, 347, 348.
1150
schedule or as altered in pursuance of that Ordinance, so far as the same applies to any company existing at the commencement of this Ordinance;
(3) Table A in the First Schedule to the Com- panies Ordinance, 1911, or any part thereof, either as originally contained in that Schedule or as altered in pursuance of section one hundred and nineteen of that Ordinance, so far as the same applies to any company existing at the commencement of this Ordi-
nance;
355. The provisions of this Ordinance with respect to winding up shall not apply to any company of which the winding up has commenced before the commencement of this Ordinance, but every such company shall be wound up in the same manner and with the same incidents as if this Ordinance had not passed, and, for the purposes of the winding up, the Ordinance or Ordinances under which the winding up commenced shall be deemed to remain in full force.
356. Nothing in this Ordinance shall affect the provisions of the Life Insurance Companies Ordinance, 1907, the Fire Insurance Companies Ordinance, 1908, or the Fire and Marine Companies Deposit Ordinance, 1917.
357. This Ordinance shall come into force on the first day of July, 1933.
SCHEDULES.
FIRST SCHEDULE.
TABLE A.
REGULATIONS FOR MANAGEMENT OF A COMPANY LIMITED
BY SHARES. Preliminary.
1. In these regulations:-
"The Ordinance" means the Companies Ordin-
ance, 1932.
When any provision of the Ordinance is referred to, the reference is to that provision as modified by any statute for the time being in force.
Unless the context otherwise requires, expressions defined in the Ordinance or any statutory modification thereof in force at the date at which these regulations become binding on the company, shall have the meanings so defined.
Shares.
2. Subject to the provisions, if any, in that behalf of the memorandum of association, and without pre- judice to any special rights previously conferred on the holders of existing shares, any share may be issued with such preferred, deferred, or other special rights, or such restrictions, whether in regard to dividend, voting, return of share capital, or otherwise, as the company may from time to time by special resolution determine, and any preference share may, with the sanction of a special resolution, be issued on the terms that it is, or at the option of the com- pany is liable, to be redeemed.
3. If at any time the share capital is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that class) may be varied with the consent in writing of the holders of three-fourths of the issued shares of that class, or with the sanction of an extraordinary resolution passed at a separate general meeting of the holders of the shares of the class. To every such separate general meeting the provisions of these regulations relating to general