Applications
of fines.
8 Edw. 7 c. 69.9.277.
Costs in actions by certain limited
companies. Ib. s. 278.
Penalty for failure to Pay fine.
Power of court to
in certain
cases.
890
255. The magistrate imposing any fine under this Ordinance may direct that the whole or any part thereof be applied in or towards payment of the costs of the proceedings, or in or towards the rewarding the person on whose information or at whose suit the fine is recovered, and subject to any such direction all fines under this Ordiu- ance shall notwithstanding anything in any other Ordinance be paid to the Colonial Treasurer.
256. Where a limited company is plaintiff in any action or other legal proceeding, any judge having jurisdiction in the matter may, if it appears by credible testimony that there is reason to believe that the company will be unable to pay the costs of the defendant if successful in his defence, require sufficient security to be given for those costs, and may stay all proceedings until the security is given.
257-(1) If any company fails to pay the whole or any part of any fire or penalty imposed by a Magistrate under this Ordinsmee within ong mouth of the day on which the said fine or penalty was imposel, the registrar of companies shall publish in the Gazette and send to the company by post a notice that at the expiration of two months from the date of such notice the name of the company wentioned therein will, unless the said fine or penalty be sooner paid, be struck off the register and the company will be dissolved.
(2) At the expiration of the time mentioned in the notice the registrar may, unless cause to the contrary is previously shown by the company, strike its name off the register, and shall publish notice thereof in the Gazette, and on the publication in the Gazette of this notice the company shall be dissolved: Provided that the liability (if any) of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved,
(3) If a company or any member or creditor thereof feels aggrieved by the company having been struck off the re- gister, the court on the application of the company or member or creditor may, if satisfied that it is just that the company be restored to the register, order the name of the company to be restored to the register, and the cupon the company shall be deemed to have continued in existence as if its name had not been struck off; and the cout may by the ender give such directions and make such provisions as sem just for placing the company and all other persons in the same position as nearly as may be as if the name of the company had not been struck off,
(4) A letter or notice under this section may be widressed to the company at its registered office, or, if no office has been registered, to the care of some director or officer of the company, or, if there is no director or officer of the company whose name and address are known to the re- gistrar of companies, may be sent to each of the persons who subwe ibed the memorandum, addressed to him at the address mentioned in the memorandum.
Provided that nothing in this section shall affect any other legal method of enforcing fines or penalties imposed by a Magistrate,
258. If in any proceeding against a director, or person occupying the position of director, of a company for grant relief negligence or breach of trust it appears to the court hearing the case that the director er person is or may be liable in respect of the negligence or breach of trust, but has acted honestly and reasonably, and ought fairly to be excused for the negligence or breach of trust, that court may relieve him, either wholly or partly, from his liability on such term as the court may think proper.
Zb. s. 279.
Penalty for false state- ment.
Ib. a. 281.
259. If any person in any return, report, certificate, balance sheet, or other document, required by or for the purposes of any of the provisions of this Ordinance specified in the Fourth Schedule hereto, wilfully makes a statement false in any material particular, knowing it to be false, he shall be guilty of a misdemeanor.
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