ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
event of the same being wound up: It shall also, in all proceedings for determining the persons who are to be deemed contributories, and in all proceedings prior to the final determination of such persons, include any person alleged to be a contributory.
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liability of contributory.
74. (73.) The liability of any person to contribute to the assets of a company under this Ordinance in the event of the same being wound-up, shall be deemed to create a debt of the nature of a specialty debt accruing due from such person at the time when his liability commenced, but payable at the time or respective times when calls are made as hereinafter mentioned for enforcing such liability; and it shall be lawful in the case of the bankruptcy of any contributory to prove against his estate the estimated value of his liability to future calls, as well as calls already made.
Contributories in case of death.
75. (74.) If any contributory dies either before or after he has been placed on the list of contributories hereinafter mentioned, his personal representatives, heirs, and devisees shall be liable in a due course of administration to contribute to the assets of the company in discharge of the liability of such deceased contributory, and such personal representatives, heirs, and devisees shall be deemed to be contributories accordingly.
76. (75.) If any contributory becomes bankrupt, either before or after he has been placed on the list of contributories, his assignees shall be deemed to represent such bankrupt for all the purposes of the winding-up, and shall be deemed to be contributories accordingly, and may be called upon to admit to proof against the estate of such bankrupt, or otherwise to allow to be paid out of his assets in due course of law, any monies due from such bankrupt in respect of his liability to contribute to the assets of the company being wound up.
Contributories in case of bankruptcy.
Contributories in case of marriage.
77. (76.) 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.
Circumstances under which company may be wound up by Court.
78. (77.) A company under this Ordinance may be wound up by the Supreme Court exercising jurisdiction in Equity under the following circumstances; (that is to say,)
(1.) Whenever the company has passed a special resolution requiring the company to be wound up by the Court:
.:
pany may be wound up by Court