380
THE HONGKONG GOVERNMENT GAZETTE, 8TH OCTOBER, 1864.
Contributories in case of Marriage.
Circumstances un-
Monies due from such Bankrupt in respect of his Liability to contribute to the Assets of the Company being wound up.
LXXVII. If any Female Contributory marries, either before or after she has been placed on the List of Contributories, her Husband shall during the continuance of the Marriage be liable to contribute to the Assets of the Company the same Sum as she would have been liable to contribute if she had not married, and he shall be deemed to be a Contributory accordingly.
Winding-up by Court.
LXXVIII. A Company under this Ordinance may be wound up by the Court as der which Company herein-after defined, under the following circumstances; (that is to say,)
may be wound up by Court,
Company when
(1.) Whenever the Company has passed a special Resolution requiring the Company
to be wound up by the Court:
(2.) Whenever the Company does not commence its Business within a Year from
its Incorporation, or suspends its Business for the Space of a whole Year: (3.) Whenever the Members are reduced in number to less than seven: (4.) Whenever the Company is unable to pay its Debts:
(5.) Whenever the Court is of Opinion that it is just and equitable that the
Company should be wound up.
LXXIX. A Company under this Ordinance shall be deemed to be unable to pay deemed unable to pay its Debts,
its Debts.
Difinition of "the Court."
Application
for
winding-up to be made by Petition.
Power of Court.
Commencement of winding-up by Court,
Court may grant Injunction.
(1.) Whenever a Creditor, by Assignment or otherwise, to whom the Company is indebted, at Law or in Equity, in a Sum exceeding Two Hundred Dollars then due, has served on the Company, by leaving the same at their registered Office, a demand under his Hand requiring the Company to pay the Sum so due, and the Company has for the Space of three Weeks succeeding the Ser- vice of such demand, neglected to pay such Sum, or to secure or compound for the same to the reasonable satisfaction of the Creditor :
(2.) Whenever, Execution or other process issued on a Judgment, Decree, or Order obtained in any Court in favor of any Creditor, at Law or in Equity, in any Proceeding instituted by such Creditor against the Company, is returned unsatisfied in whole or in part:
(3.) Whenever it is proved to the satisfaction of the Court that the Company is
unable to pay its Debts.
LXXX. The Expression "the Court," as used in this Ordinance, shall mean the Supreme Court of this Colony on its Equity Jurisdiction.
LXXXI. Any Application to the Court for the winding-up of a Company under this Ordinance shall be by Petition; it may be presented by the Company, or by any one or more Creditor or Creditors, Contributory or Contributories of the Company, or by all or any of the above Parties, together or separately; and every Order which may be made on any such Petition shall operate in favour of all the Creditors and all the Contributories of the Company in the same manner as if it had been made upon the joint Petition of a Creditor and a Contributory.
LXXXII. The Chief Justice of the Supreme Court may do in Chambers any act which the Court is hereby authorised to do.
LXXXIII. A 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.
LXXXIV. The Court may, at any Time after the presentation of a Petition for winding-up a Company under this Ordinance, and before making an Order for winding-up the Company, upon the application of the Company, or of any Creditor or Contributory of the Company, restrain further proceedings in any Action, Suit, or Proceeding against the Company, upon such Terms as the Court thinks fit; the Court
may also at any
Time after the Presentation of such Petition, and before the first Appointment of Liquidators appoint provisionally an Official Liquidator of the Estate and Effects of the Company,