A.D. 1865.]
COMPANIES.
[No. 1.
91
rights of con-
156. The Court shall adjust the rights of the contributories among themselves, and distribute any surplus that may remain among the parties entitled thereto.
25 & 26 Vict. c. 89 s. 109.
Power to order costs. 16. s. 110.
157. The Court may, in the event of the assets being insufficient 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.
158.-(1.) 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 accordingly.
(2.) Any order so made shall be reported by the official liquidator to the Registrar of Companies, who shall make a minute accordingly in his books of the dissolution of the company.
(3.) If the official liquidator makes default in reporting to the Registrar, in the case of a company being wound up by the Court, the order that the company be dissolved, he shall be liable to a penalty not exceeding fifty dollars for every day during which he is so in default.
25 & 26 Vict. ss.111-113.
159. Any petition for winding up a company by the Court under this Ordinance shall constitute a lis pendens within the terms of the Land Registration Ordinance, 1844, provided that the memorial is signed by the petitioners and contains their names and additions, the name of the company whose estate is intended to be affected thereby, the day when the said petition was filed, and the sum of money, if any, in controversy, and so that the said memorial is verified in other respects as is provided by the said Ordinance in the case of judgments.
Extraordinary Powers of the Court.
160.(1.) The Court may, after it has made an order for winding up the company, summon before it any officer of the company or person known or suspected to have in his possession any of the estate or effects of the company or supposed to be indebted to the company, or any person whom the Court may deem capable of giving information concerning the trade, dealings, estate, or effects of the company,
(2.) The Court may require any such officer or person to produce any books, papers, deeds, writings, or other documents in his custody or power relating to the company; but where such officer or person claims any lien on books, papers, deeds, writings, or documents produced by him, such production shall be without prejudice to such lien, and the Court shall have jurisdiction in the winding-up to determine all questions relating to such lien.
(3.) If any person so summoned, after being tendered a reasonable
(Dissolution of company.
Petition for winding-up to be lis pendens. 1b. s. 114. No. 1 of 1844.
Power to summon persons suspected of having property of company, etc.
Th. s. 115.
mon persons