1984 Ed.]
Companies
[CAP. 32
231
Provided that the court may, on the application of the liquidator or of any other person who appears to the court to be interested, make an order deferring the date at which the dissolution of the company is to take effect for such time as the court thinks fit.
(5) It shall be the duty of the person on whose application an order of the court under this section is made, within 7 days after the making of the order, to deliver to the Registrar an office copy of the order for registration, and if that person fails so to do he shall be liable to a fine of $200 for every day during which the default continues.
(6) If the liquidator fails to call a general meeting of the company or a meeting of the creditors as required by this section, he shall be liable to a fine of $5,000 (Added, 6 of 1984, s. 172)
(Amended, 6 of 1984, s. 172)
Provisions applicable to every Voluntary Winding Up
249. The provisions contained in sections 250 to 257 shall apply to every voluntary winding up.
(Amended, 6 of 1984, s. 173)
Provisions applicable to every voluntary winding up. 1929 c. 23, s. 246. Distribution of company. 1929 c. 23, s. 247.
250. Subject to the provisions of this Ordinance as to preferential payments, the property of a company shall, on its winding up, be applied in satisfaction of its liabilities pari passu, and, subject to such application, shall, unless the articles otherwise provide, be distributed among the members according to their rights and interests in the company.
251. (1) The liquidator may----
(a) in the case of a members' voluntary winding up, with the sanction of a special resolution of the company, and, in the case of a creditors' voluntary winding up, with the sanction of the court or the committee of inspection or (if there is no such committee) a meeting of the creditors, exercise any of the powers given by paragraphs (d), (e) and (f) of section 199(1) to a liquidator in a winding up by the court; (Replaced, 6 of 1984, s. 174)
(b) without sanction, exercise any of the other powers by this Ordinance given to the liquidator in a winding up by the court;
(c) exercise the power of the court under this Ordinance of settling a list of contributories, and the list of contributories shall be prima facie evidence of the liability of the persons named therein to be contributories;
(d) exercise the power of the court of making calls;
(e) summon general meetings of the company for the purpose of obtaining the sanction of the company by special resolution or for any other purpose he may think fit. (Amended, 6 of 1984, s. 174)
Powers and duties of liquidator in voluntary winding up. 1929 c. 23, s. 248.