1970-HKRS29-8-37_Part04 — Page 20

Third Sebedak,

Insurance policy to be made available by managemcot committee for inspection.

Management

committee to perform duties and exercis powers of corporation.

Dissolution of management committee and appointment of administrator. Third Schedule.

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before the corporation at the annual general meeting convened in accordance with sub-paragraph (1) of paragraph I of the Third Schedule.

(2) The management committee shall permit an owner, a registered mortgagee or any person authorized in writing in that behalf by an owner or registered mortgagee to inspect the books of account at any reasonable time.

(3) In the event of a contravention of subsection (1), every member of the management committee shall be guilty of an offence and shall be liable on conviction to a fine of two thousand dollars unless he proves--

(a) that the offence was committed without bis consent or

connivance; and

(b) that he exercised all such due diligence to prevent the commission of the offence as be ought to have exercised in the circumstances.

28. If a corporation has effected any policy of insurance in respect of the building or the common parts the management com- millee shall permit an owner, a registered mortgagee or any person duly authorized in writing in that behalf by an owner or registered mortgagee, to inspect the policy of insurance and the receipt for the last promium in respect thereof at any reasonable time.

29. Subject to this Ordinance, the powers and duties con- ferred or imposed by this Ordinance on a corporation shall be exercised and performed on behalf of the corporation by the management committee.

PART V.

DISSOLUTION OF MANAGEMENT COMMITTEE AND APPOINTMENT OF ADMINISTRATOR.

30. (1) Subject to this section, the owners present at a meeting of the corporation convened under paragraph 1 of the Third Schedule may appoint an administrator and thereafter resolve that the management committee be dissolved.

(2) A resolution under subsection (1) shall have no effect until a copy thereof, certified as correct by the chairman of the meeting at which the resolution was passed, is lodged with the Land Officer within fourteen days after the date of the meeting.

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(3) An administrator shall hold office from the date upon which certified copy of the resolution referred to in subsection (1) is lodged with the Land Offteer until-

(a) the owners present at a meeting of the corporation con- vened under paragraph 1 of the Third Schedule appoint-

(i) another administrator; or

(ii) a new management committee; or

(b) the court appoints an administrator under section 31.

31. (1) The court may, upon application made to it by-

(4) an owner;

(b) a registered mortgages of an owner's flat:

(c) an administrator; or

(d) the Attorney General,

dissolve the management committee and appoint an administrator, or remove and replace an administrator, as the case may be.

(2) The court may direct that an administrator appointed under subsection (1) shall hold office for an indefinite period or for a fixed period on such terms and conditions as to remunera- tion or otherwise as it thinks fit, and the remuneration and ex- penses of the administrator shall be deemed to be part of the expenses of management of the building under this Ordinance.

32. (1) An administrator shall have all the powers and duties of a management committee and of the chairman and secretary thereof.

(2) An administrator shall, within seven days of the date of his appointment or the determination of his appointment, give notice thereof to the Land Officer in such form as the Land Officer may specify.

(3) Any person who contravenes subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine of one hundred dollars for each day during which the contravention continues.

PART VI

WINDING UP OF CORPORATIONS.

33. (1) A corporation may be wound up under the provi- sions of Part X of the Companies Ordinance as if it were an unregistered company within the meaning of that Ordinance and

Third Schedule.

Appointment of adminis- trator by the court.

Powers and duties of a administrator.

Winding up of corporations, (Co. 32)