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(b) where any other action or proceeding
pending against the company, apply to the court having jurisdiction to wind
up the
company to restrain further proceedings in the action or proceeding;
and the court to which application is so made may, as the case may be, stay or restrain the proceedings accordingly on such terms as it thinks fit.
Avoidance of 168. In a winding up by the court, any dis- dispositions position of the property of the company, including of property, things in action, and any transfer of shares, or altera- tion in the status of the members of the company, made after the commencement of the winding up, shall, unless the court otherwise orders, be void.
&c. after Commence ment of
winding up.
19 & 20 Ge 5, 23, 8. 173.
Avoidance
of attach-
inents, &c.
169. Where any company is being wound up by the court, any attachment, sequestration, distress, or execution put in force against the estate or effects of 19 & 20 Geo. the company after the commencement of the winding
up shall be void to all intents.
5, c. 23, 9. 174.
Commence- ment of winding up by the court.
Commencement of Winding Up.
170.—(1) Where before the presentation of a peti- tion for the winding up of a company by the court a resolution has been passed by the company for voluntary winding up, the winding up of the com- 19 & 20. Geo, pany shall be deemed to have commenced at the time of the passing of the resolution, and unless the court, on proof of fraud or mistake, thinks fit other- wise to direct, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken.
5, c. 23,
5. 175.
Copy of
order to be forwarded
to registrar. 19 & 20 Geo. 5, c. 23,
s. 176.
Actions stayed on
order.
winding-up 19 & 20 Geo. 5, c. 23,
$. 177.
Effect of
(2) In any other case, the winding up of a company by the court shall be deemed to commence at the time of the presentation of the petition for the winding up.
Consequences of Winding-up Order.
171. On the making of a winding-up order, a copy of the order must forthwith be forwarded by the company, or otherwise as may be prescribed, to the registrar of companies, who shall make a minute thereof in his books relating to the company.
172. When a winding-up order has been made, or a provisional liquidator has been appointed, no action or proceeding shall be proceeded with or commenced against the company except by leave of the court, and subject to such terms as the court may impose.
173. An order for winding up a company shall winding-up operate in favour of all the creditors and of all the contributories of the company as if made on the joint petition of a creditor and of a contributory.
order.
19 & 20 Geo
5, c. 23,
s. 178.
Official receiver in bankruptcy to be official
receiver for
winding-up purposes.
19 & 20 Geo
5, c. 23,
s. 179.
Official Receiver in Winding Up,
174. (1) For the purposes of this Ordinance so far as it relates to the winding up of companies by the court the term "official receiver' means the official receiver, if any, attached to the court for bankruptcy purposes, or if there is more than one such official receiver, then such one of them as the Governor may appoint, or, if there is no such official receiver, then an officer appointed for the purpose by the
Governor
(2) But, for the purposes of this Ordinance, so far as it relates to the winding up of China companies or Hong Kong China companies by or under the supervision of the Supreme Court for China, and so far as it relates to the voluntary winding-up of China companies and Hong Kong China companies by liquidators appointed to act within the limits of the China Orders in Council, "official receiver" shall mean any person appointed in that behalf by the judge of the Supreme Court for China.
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(3) Any such officer shall for the purpose of his duties under this Ordinance be styled "the official receiver.'
175. If in the case of the winding up of any com- Appoint- pany by the court it appears to the court desirable, ment of with a view to securing the more convenient and official economical conduct of the winding up, that some Court in
receiver by officer, other than the person who would by virtue of certain
the last foregoing section of this Ordinance be the cases. official receiver, should be the official receiver for the 19 & 20 Geo. purposes of that winding up, the court may appoint 5, c. 23,
8. 180. that other officer to act as official receiver in that winding up, and the person so sppointed shall be deemed to be the official receiver in that winding up
for all the purposes of this Ordinance.
176.-(1) Where the court has made a winding-up Statement order or appointed a provisional liquidator, there shall, of company's unless the court thinks fit to order otherwise and so orders, be made out and submitted to the official to official receiver a statement as to the affairs of the company receiver.
affairs to be submitted
s. 181.
in the prescribed form, verified by affidavit, and show- 19 & 20 Geo. ing the particulars of its assets, debts, and liabilities, 5. c. 23, the names, residences, and occupations of its creditors, the securities held by them respectively, the dates when the securities were respectively given, and such further or other information as may be prescribed or as the official receiver may require.
(2) The statement shall be submitted and verified
by one or more of the persons who are at the relevant date the directors and by the person who is at that date the secretary or other chief officer of the com- pany, or by such of the persons hereinafter in this subsection mentioned as the official receiver, subject to the direction of the court, may require to submit and verify the statement, that is to say, persons--
(a) who are or have been directors or officers of the
company:
(b) who have taken part in the formation of the company at any time within one year before the relevant date;
(c) who are in the employment of the company, or have been in the employment of the com- pany within the said year, and are in the opinion of the official receiver capable of giving the information required:
(d) who are or have been within the said year officers of or in the employment of a company, which is, or within the said year was, an officer of the company to which the statement relates.
(8) The statement shall be submitted within twenty-eight days from the relevant date, or within such extended time as the official receiver or the court may for special reasons appoint.
(4) Any person making or concurring in making the statement and affidavit required by this section shall be allowed, and shall be paid by the official receiver or provisional liquidator, as the case may be, out of the assets of the company, such costs and expenses in- curred in and about the preparation and making of the statement and affidavit as the official receiver may consider reasonable, subject to an appeal to the court.
(5) If any person, without reasonable excuse, makes default in complying with the requirements of this section, he shall be liable to a fine not exceeding one hundred dollars for every day during which the default continues.
(6) Any person stating himself in writing to be a creditor or contributory of the company shall be en- titled by himself or by his agent at all reasonable times, on payment of the prescribed fee, to inspect the statement submitted in pursuance of this section, and to a copy thereof or extract therefrom.
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