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THE HONGKONG GOVERNMENT GAZETTE, 18TH MARCH, 1865.
ial Resolution or Extraordinary Resolution, or for any other Purposes they think and in the event of the Winding-up continuing for more than One Year, the Liquidators l summon a General Meeting of the Company at the end of the First Year, and of ch succeeding Year from the Commencement of the Winding-up, or as soon thereafter may be convenient, and shall lay before such Meeting an Account showing their Acts nd Dealings, and the Manner in which the Winding-up has been conducted during the preceding Year.
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Vacaucy in Liquida-
CXXIX. If any Vacancy occurs in the Office of Liquidators appointed by the Power to fill up Company, by Death, Resignation, or otherwise, the Company in General Meeting may, tors
bject to any Arrangement they may have entered into with their Creditors, fill up ach Vacancy, and a General Meeting for the purpose of filling up such Vacancy may be vened by the continuing Liquidators, if any, or by any Contributory of the Company, shall be deemed to have been duly held if held in manner prescribed by the ulations of the Company, or in such other manner as may, on Application by the tinuing Liquidator, if any, or by any Contributory of the Company, be determined by the Court.
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CXXX. If from any Cause whatever there is no Liquidator acting in the Case Power of Court to f a voluntary Winding-up, the Court may, on the Application of a Contributory, appoint appoint Liquidators.
Liquidator or Liquidators: The Court may also, on due Cause shown, remove any
Liquidator, and appoint another Liquidator to act in the Matter of a voluntary Winding-up.
CXXXI. As soon as the Affairs of the Company are fully wound up, the Liquida- Liquidators on Con- clusion of Winding-up fors shall make up an Account showing the Manner in which such Winding-up has been
to make up an Ac- conducted, and the Property of the Company disposed of; and thereupon they shall call count.
General Meeting of the Company for the purpose of having the Account laid before them and hearing any Explanation that may be given by the Liquidators: The Meeting shall be called by Advertisement specifying the Time, Place, and Object of such Meeting; d such Advertisement shall be published One Month at least previously to the Meeting in the Hongkong Government Gazette.
port Meeting to Re-
CXXXII. The Liquidators shall make a return to the Registrar of such Meeting Liquidators to re- having been held, and of the Date at which the same was held, and on the Expiration gistrar. of Three Months from the Date of the Registration of such Return the Company shall be deemed to be dissolved: If the Liquidators make default in making such Return to the Registrar they shall incur a Penalty not exceeding Fifty Dollars for every Day during which such Default continues.
Liquidation.
CXXXIII. All Costs, Charges, and Expenses properly incurred in the voluntary Costs of voluntary Winding-up of a Company, including the Remuneration of the Liquidators, shall be payable out of the Assets of the Company in priority to all other Claims.
Creditors.
CXXXIV. The voluntary Winding-up of a Company shall not be a Bar to the Saving of Rights of Right of any Creditor of such Company to have the same wound up by the Court, if the Court is of opinion that the Rights of such Creditor will be prejudiced by a voluntary Winding-up.
voluntary Winding-up
CXXXV. Where a Company is in course of being wound up voluntarily, and Power of Court to Proceedings are taken for the Purpose of having the same wound up by the Court, the adopt Proceedings of Court may, if it thinks fit, notwithstanding that it makes an Order directing the Company to be wound up by the Court, provide in such Order or in any other Order for the Adoption of all or any of the Proceedings taken in the course of the voluntary Winding-up.
Winding-up subject to the Supervision of the Court.
application, to direct
CXXXVI. When a Resolution has been passed by a Company to wind up volun- Power of Court, on tarily, the Court may make an Order directing that the voluntary Winding-up should winding-up, subject
ontinue, but subject to such Supervision of the Court, and with such Liberty for to Supervision.
editors, Contributories, or others, to apply to the Court, and generally upon such Terms and subject to such Conditions as the Court thinks just.
CXXXVII. A Petition, praying wholly or in part that a voluntary Winding-up ould continue, but subiect to the Supervision of the Court, and which Winding-up is Breinafter referred to as a Winding-up subject to the Supervision of the Court, shall
Petition for wind-
on
ing-up, subject to Supervision.
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