A.D. 1866.]
COMPANIES (REGISTRATION).
[No. 1.
253
the payment of the costs, charges, and expenses of winding up the company, so far as relates to such debts or liabilities as aforesaid; and every such contributory shall be liable to contribute to the assets of the company, in the course of the winding-up, all sums due from him in respect of any such liability as aforesaid; and in the event of the death, bankruptcy, or insolvency of any such contributory as last aforesaid, or the marriage of any such contributory, being a female, the provisions of the Companies Ordinance, 1865, with respect to the representatives, heirs, and devisees of deceased contributories, and with respect to the assignees of bankrupt or insolvent contributories and to the husbands of married contributories, shall apply; and
(f.) nothing herein contained shall authorize any company to alter any such provisions contained in any letters patent, deed of settlement, contract of copartnery, or other instrument constituting or regulating the company as would, if such company had originally been formed under the Companies Ordinance, 1865, have been contained in the memorandum of association, and are not authorized to be altered by the Companies Ordinance, 1865.
(2.) Nothing herein contained shall derogate from any power of altering its constitution or regulations which may be vested in any company registering in pursuance of this Ordinance by virtue of any Ordinance, letters patent, deed of settlement, contract of copartnery, or other instrument constituting or regulating the company.
19. The Court may, at any time after the presentation of a petition for winding up a company registered in pursuance of this Ordinance and before making an order for winding up the company, on the application by motion of any creditor of the company, restrain further proceedings in any action, suit, or legal proceeding against any contributory of the company, as well as against the company as hereinbefore provided, on such terms as the Court thinks fit.
Power for the Court to restrain proceedings.
winding up order for winding up company.
20. Where an order has been made for winding up a company registered in pursuance of this Ordinance, in addition to the provisions hereinbefore contained, it is hereby further provided that no action, suit, or other legal proceeding shall be commenced or proceeded with against any contributory of the company in respect of any debt of the company, except with the leave of the Court and subject to such terms as the Court may impose.