THE HONGKONG GOVERNMENT GAZETTE, DECEMBER 15, 1911.
172. Any powers by this Ordinance conferred on the rowers of court shall be in addition to and not in restriction of Court cumnu-
any
Jative.
existing powers of instituting proceedings against any con- s Edw. 7 c. tributory or debtor of the company, or the estate of any 69 s. 177. contributory or debtor for the call or other sums,
Enforcement of and Appeal from Orders.
173. Orders made by the Court under this Ordinance may Power to en- be enforced in the same manner as orders made in any action pending therein.
force orders. [b. s. 178.
from order.
174. Subject to rules of court, an append from any order Appeals, or decision made or given in the winding up of a company fb. 8. 181. by the court under this Ordinance shall lie in the same manner and subjeer to the same conditions as an appeal from any order or decision of the court in cases within its original jurisdiction; subject to this restriction that no such appeal shall be heard unless notice of the s me is filed within fourteen days from the date of the order or decision complained of, muless such time is extended by the Full Court.
Voluntary Winding Up.
175. A company may be wound up voluntarily-
Circum- stances in
(1) When the period (if any) fixed for the duration which com-
of the company by the articles expires, or the pany may be event (if any) occurs, on the occurrence of wound up which the articles provide that the company
voluntarily. is Ib. 182. to be dissolved, and the company in general meeting has passed a resolution requiring the company to be wound up voluntarily:
(2) If the company resolves by special resolution
that the company be wound up voluntarily : (3) If the company resolves by extraordinary re- solution to the effect that it cannot by reason of is liabilities continue its business, and that it is advisable to wind up.
176. A voluntary winding up shall be deemed to com- wrence at the time of the passing of the resolution authoris- ing the winding up.
177. When a company is wound up voluntarily the company shall, from the commencement of the winding up, cease to carry on its business, except so far as may be required for the beneficial winding up thereof;
Provided that the corporate state and corporate powers of the company shall, notwithstanding anything to the contrary in its articles, continue until it is dissolved.
Commence.
ment of voluntary winding up
b. s. 153.
Effect, nå voluntary winding u
on status of Company. 7b. s. 184.
178. When a company has resolved by special or extra- Noties of ordinary resolution to wind up voluntarily, it shall give notice of the resolution by advertisement in the Gazette,
179. The following consequences shall ensue voluntary winding up of a company :-
on the
resolution
to wind up voluntarily. Ib. 2. 185.
Cons. quences of
voluntary winding up.
(The property of the company shall be applied
in satisfaction of its liabilities pari passu, and, b. :. 196 subject thereto, shall, unless the articles other- wise provide, be distributed among the members according to their rights and interests in the Company:
(27) The company in general mecting shall appoint one or more liquidators for the purpose of wind- ing up the affairs and distributing the assets of the company, and may fix the remuneration to be paid to him or them :
(727) On the appointment of a liquidator all the powers of the directors shall cease, except so far as the company in general meeting, or the liquidator, sanctions the contiumauce thereof :
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