708
Provision in case of repre-
sentative of a contributory not paying monies or- dered.
Order conclu- sive evidence.
Court may exclude cre-
ditors not
proving with- in certain time.
Court to ad-
just rights of contribu- torics.
Court to order costs.
Dissolution of company.
ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
and regulation for the keeping of the account of such monies and other effects, and for the payment and delivery in, or investment and payment and delivery out of the same as the Court may direct.
103. (102.) If any person made a contributory as personal repre- sentative of a deceased contributory makes default in paying any sum ordered to be paid by him, proceedings may be taken for administering the personal and real estates of such deceased contributory, or either of such estates, and of compelling payment thereout of the monies due.
104. (103.) Any order made by the Court in pursuance of this Ordinance upon any contributory shall be conclusive evidence that the monies, if any, thereby appearing to be due or ordered to be paid are due, and all other pertinent matters stated in such order are to be taken to be truly stated as against all persons, and in all proceedings what- soever, with the exception of proceedings taken against the real estate of any deceased contributory, in which case such order shall only be prima facie evidence for the purpose of charging his real estate, unless his heirs or devisees were on the list of contributories at the time of the order being made.
105. (104.) The Court may fix a certain day or certain days on or within which creditors of the company are to prove their debts or claims, or to be excluded from the benefit of any distribution made before such debts are proved.
106. (105.) The Court shall adjust the rights of the contributories amongst themselves and distribute any surplus that may remain amongst the parties entitled thereto.
107. (106.) The Court may, in the event of the assets being insuf- ficient to satisfy the liabilities, make an order as to the payment out of the estate of the company of the costs, charges, and expenses incurred in winding-up any company in such order of priority as the Court thinks just.
108. (107.) When the affairs of the company have been completely wound up, the Court shall make an order that the company be dissolved from the date of such order, and the company shall be dissolved accord- ingly.
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