388
THE HONGKONG GOVERNMENT GAZETTE, 8TH OCTOBER, 1864.
Power of Court to
subject to any Arrangement they may have entered into with their Creditors, fill up such Vacancy, and a General Meeting for the purpose of filling up such Vacancy may be convened by the continuing Liquidators, if any, or by any Contributory of the Company, and shall be deemed to have been duly held if held in manner prescribed by the Regulations of the Company, or in such other inanner as may, on application by the continuing Liquidator, if any, or by any Contributory of the Company, be determined by the Court.
CXXXIV. If from any cause whatever there is no Liquidator acting in the case appoint Liquidators. of a voluntary winding-up the Court may, on the application of a Contributory, appoint a Liquidator or Liquidators: the Court may also, on due cause shown, reinove any Liquidator, and appoint another Liquidator to act in the matter of a voluntary winding-up. Liquidators on con- CXXXV. As soon as the Affairs of the Company are fully wound up, the Liquida- clusion of winding-up tors shall make up an Account showing the manner in which such winding-up has been conducted, and the Property of the Company disposed of; and thereupon they shall call a 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; and such Advertisement shall be published One Month at least previously to the Meeting in the Hongkong Government Gazette.
to make up an Ac-
Count.
Liquidators to re- port Meeting to Re- gistraz
Costs of voluntary Jiquidation.
Saving of rights of Creditors.
Power of Court to
adopt Proceedings of voluntary winding-up.
Power of Court, on application, to direct
CXXXVI. The Liquidators shall make a return to the Registrar of such Meeting having been held, and of the Date at which the same was held, and on the Expiration 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 excceding Fifty Dollars for every Day during which such default continues.
CXXXVII. All Costs, Charges, and Expenses properly incurred in the 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.
CXXXVIII. The voluntary winding-up of a Company shall not be a Bar to the 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.
CXXXIX. Where a Company is in course of being wound up voluntarily, and Proceedings are taken for the Purpose of having the same wound up by the Court, the 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 Ŏrder 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.
CXL. When a Resolution has been passed by a Company to wind up voluntarily, winding-up, subject the Court may make an Order directing that the voluntary winding-up should continue, 10 supervision but subject to such Supervision of the Court, and with such liberty for Creditors, Contributories, or others, to apply to the Court, and generally upon such Terms and subject to such Conditions as the Court thinks just,
Petition for wind-
supervision.
CXLI. A Petition, praying wholly or in part that a voluntary winding-up should ing-up subject to continue, but subject to the Supervision of the Court, and which winding-up is herein- after referred to as a winding-up subject to the Supervision of the Court, shall for the Purpose of giving Jurisdiction to the Court over Suits and Actions, be deemed to be a Petition for winding-up the Company by the Court.
gard to wishes
Cre-litors.
of
Court may have re- CXLII. The Court may, in determining whether a Company is to be wound up altogether by the Court or subject to the Supervision of the Court, in the Appointment of Liquidator or Liquidators, and in all other Matters relating to the winding-up subject to Supervision, have regard to the Wishes of the Creditors or Contributories as proved to it by any sufficient Evidence, and may direct Meetings of the Creditors or Contribu- tories to be summoned, held, and regulated in such manner as the Court directs for the Purpose of ascertaining their Wishes, and may appoint a Person to act as Chairman of any such Meeting, and to report the result of such Meeting to the Court: in the case of Creditors regard shall be had to the value of the Debts due to each Creditor, and in