Power of court to a-
soss lanuges against le- linquent
8 Edw. 7 c. 634, 216,
GS
(2) In the case of a winding up by the court the exer- cise by the liquidator of the powers of this section shall be subject to the control of the court, and my creditor or contributory may apply to the court with respect to any of those powEFS,
205.--(1) Where in the course of winding up a com- pany it appears that any person who has taken part in the formation or promotion of the company, or any past or present director, manager, or liquidator, or any officer of directors, te. The company, has misapplied or retained or become liable or accountable for any money or property of the company, or been guilty of any misfeasauce or breach of trust in relation to the company, the court may, on the application of the official reeciver, or of the liquidator, or of any ereditor or contributory, examine into the conduct of the promoter, director, manager. liquidator, or officer, and compel him to repay or resture the money or property or any part thereof respectively with interest at such rate as the court thinks just, or to contribute such sum to the assets of the company by way of compensation in respect of the misapplication, retainer, misfeasance, or brench of trust as the coner thinks just.
(2) This section shall apply notwithstanding that the offence is, one for which the offender may be evimiently responsible.
(3) Where in the case of a winding up an order for payment of money is made under this section, the order shall be deemed to be a final judgment within the meaning of paragraph (g) of subsection (1) of section three of the No.7 of 1891 Bankruptcy Ordinance, i891,
Ordinance
Falsification
demeanor.
f. s. 216.
206. If any director, officer, or contriimtory of any
of books mis- company being wound up destroys. mulilutes, aliers, or falsifies any books, papers, or stenrities, or makes or is privy to the making of any false or fraudulent entry in any register, book of account, or document belonging to the company with intent to defraud or deceive any person, he shall be guilty of a misdemeanor,
Prosecution
1. s. 217.
207.—(1) If it appears to the court in the course of a of delinquent winding up by or subject to the supervision of the court directors, &c. that any past or presont dircetor, unumger, officer, or member of the company has been guilty of any offence in relation to the company for which he is criminally res- pousible, the court may on the application of any person interested in the winding ap, or of its own motion, direct the liquidator to prosecure for the offence, and may onder the costs and expenses to be paid out of the assets of the company.
Penily on perjury th. s. 218.
Meetings to ascertain wishes of creditors or contribu- tories. 16... 213.
(2) If it appears to the liquidator in the course of a volitary winding up that any past or present director, manager, officer, or member of the company has been guilty of any offence in relation to the compatry for which he is criminally responsible, the liquidator, with the previous sanction of the court, muy prosecate the offender, and expenses properly incurred by him in the prosecution shall be payable out of the assets of the company in priority to all other fiscalities.
203. If any person, on examination on oath authorised under this Odliance or in any affidavit or deposition in or about the winding up of any company or otherwise in or about any matter arising wder this Ordinance wiltally and corruptly gives false evidence, he shall be liable to the penalties for wilful perjmy,
209-(1) Where by this Ordinance the court is autho- rised, in relation to winding up, to have regard to the wishes of creditors or contributories, as proved to it by any sufficient evidence, the court may, if it thinks fit, for the purpose of ascertaining those wishes, direct mestings of the creditors or contributories to be called, held, and conducted in such manner as the court directs, and may appoint a person to act as chairman of any such meeting and to report the result thereof to the court.
(2) In the case of creditors, regard shall be had to the value of each creditor's debt.
69
(3) In the case of contributories, regard shall be had to the number of votes conferred on cach contributory by the articles.
210. Where any company is being wind up, all books Books of and papers of the company and of the liquidators shub, as company to between the contributories of the company, be prima furie be evidence. evidence of the tenth of all matters purporting to be 69 s. 220, therein recorded.
* Edw. 7 c.
211. After an order for a winding up by or subject in the Inspection supervision of the court, the court may unke such order for of books. inspection by creditors and contributories of the company H. 8. 221. of its books and papers as the court thinks just and any books and papers in the possession of the company may be inspected by creditors or contributories accordingly, but
not father or otherwise
212.-1) When a company has been wound up and is Disposal of about to be dissolved, the books and papers of the company books and and of the liquidators may be dispusel of as follows (that is papers of company. to say) :--
th. 8. 222. (a). In the case of a winding up by or subject to the supervision of the court in such way as the court directs:
(b). In the ease of a voluntary winding up in such way as the company by extraordinary resolu- fimm directs.
01.
(2) After live years from the dissolution of the company no responsibility shall rear
the the company, or liquidators, or any person to whom the custody of the books and papers has been committer, by reason of the same not being forthcoming to any person claiming to he interested therein.
Power of
solution of company
213.- Where a company has been dissolved, the court may at any time within two years of the late of the court to dissolution, on an application being made for the purpose declare dis- by the liquidator of the company or by any other person who appears to the court to be interested, make an order, o upon auch terms as the court thinks fis, declaring the 7, s. 223. dissolution to have been void, and thereupon such proveci- bugs may be taken as might have been taken if the company had not been dissolved.
(2) It shall be the duty of the person oy whore appli- ention the order was made, within seven days after the making of the order, to file with the registrar of companies an office copy of the order, and if that persou falls so to da he shall be liable to a fine not exceeding fifty dollars for every day during which the default continues.
214.--(1) Where a company is being wound up, if the Information winding up is not concluded within one year after its con- as to pend- mencement, the liquidator shall, at such intervals as may ng liquida- be prescribed, until the winding up is concluded, send to Th, x. 221. the registrar of companies a statement in the proscribed form and containing the prescribed particulars with respect
to the proceelings in nnd position of the liquidation.
(2) Any person stating himself in writing to be a creditor
or contributory of the company shall be entitled, by himself
or by his agent, at all reasonable times, on payment of the prescribed fee, to fuspect the statement, and to regeivo a copy thereof or extract therefrom; at any person untruth- fully so stating himself to be a creditor or contributory shall be guilty of a contempt of court, and shall be punish- alle necordingly on the application of the liquidator or of the official receiver.
(3) If a liquidator fails to comply with the requirements of this section he shall be liable to a fins not exceeing live Indred dollars for each day during which the default
contimes,
(4) If it appears from any such statement or otherwise that a liquidator has in his hands or under his control any moncy representing unclaimed or undistributed assets of the company which have remained unclaimed or undistributed for six months after the date of their receipt, the liquidator shall forthwith pay the same to the Companies Liquida- tion Account at the bank, and shall be entitled to the prescribed mortiämato of receipt for the money so paid, and ihat certificate shall be an effectual discharge to him in respect thereof.
tions.
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