1984 Ed.]
Companies
[CAP. 32
255
(2) When any part of the money placed on deposit or otherwise invested under subsection (1) is, in the opinion of the Official Receiver, required to answer any demands in respect of companies' estates, he shall notify to the Director of Accounting Services the amount so required, and the Director of Accounting Services shall thereupon direct that such sum as may be so required shall be repaid to the Official Receiver to the credit of the Companies Liquidation Account, and for that purpose may direct the sale of such part of the said securities as may be necessary (Replaced, 6 of 1984, s. 206)
(3) The interest on investments or deposits made under this section, any profits realized on the sale of such investments and any bank interest received shall be paid into the Companies Liquidation Account, and the Official Receiver shall on or before 31 March in each year transfer to the general revenue the accumulated balance of such income, profits and bank interest, after deducting therefrom any losses on the realization of such investments. (Replaced, 15 of 1955, s. 9. Amended, 6 of 1984, s. 206)
295. (1) An account shall be kept by the Official Receiver of the receipts and payments in the winding up of each company, and, when the cash balance standing to the credit of the account of any company is in excess of the amount which, in the opinion of the committee of inspection, is required for the time being to answer demands in respect of that company's estate, the Official Receiver shall, on the request of the committee, invest the amount not so required on fixed deposit or on deposit at call with such bank as the Committee and the Official Receiver shall think fit or in Government securities (including securities issued by the Government of the United Kingdom), to be placed to the credit of the said account for the benefit of the company. (Amended, 25 of 1958, s. 8 and 6 of 1984, s. 207)
(2) When any part of the money so invested is, in the opinion of the committee of inspection, required to answer any demands in respect of the estate of the company, the Official Receiver shall, on the request of the committee, raise such sum as may be required by the sale of such part of the said securities as may be necessary.
(3) The interest on investments or deposits made under this section shall be paid to the credit of the company. (Amended, 6 of 1984, s. 207)
Separate accounts of particular estates.
1929 c. 23, s. 302.
Rules and Fees
296. (1) The Chief Justice may, with the approval of the Legislative Council, make general rules for carrying into effect the objects of this Ordinance so far as relates to the winding up of companies.
and orders
(2) All rules made under this section shall be judicially noticed, and shall have effect as if enacted by this Ordinance.
General rules and fees. 1929 c. 23, s. 305.
380f1987s5
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