CO129-354 - Public Offices & Others - 1908 — Page 59

been restored to the register

It will I think, be sufficient if a member or creditor is gjour the right to affley for restoration

of there company to the register without more

if restoration is granted are contributory or creditor

Cair

porter with take the necessary steps for

winding up under Part II of the Companies adu 1865.

Moreover this will to in accordance with the laglot

Comfrances Acts which colomes who adoft.

that wooded she followi

closely, and possible_

чери

The provans of ssc 2.9 (8) - (5) of a 11 of 1907, to which the Bott

are based on ssc 211 (5) - (7) of the Come homes ata 1865. These latter provaes in their persunt forms in the neand haw Book closely

follows the English Companies Act 1880,

ise 7151 of this Act has,

Src - (5) - (7).

howers, been amended by sec 26 (2) of the

Act of 1900

Suggestif to the effect was the last pasa of the B&T litter.

I therefe, think that in forwarding the Boft lettes we sh? call attention to see 2612) of the

Act of 1900 and suggest that Sec 211 (5)

orta 1865 and ssc 29 (3) of

shi be amended on the lives of that provas,

tha

andre

A

of 1907

and that the 3 subsections so amcorded

Sec 211 (5)-(7) of oud of 1865) she be introduced into ride 3 of 1905.

Air Stutts

Should a

JJn.

123/5

JB

2-j

175m

reminder be sent ? Wom

1419 407

)

Gov

[C. No. 9.]

It is requested that any reply to this Letter

may

be addressed to the Comptroller of the Companies Department, 8, Delahay Street, London, S.W., (Telegraphic Address: "Companies London,”) and that the following number may be quoted —

C.0.

18218

58

21 MAY 08:

BOARD OF TRADE.

878.

Sir,

20th. May, 1908.

I am directed by the Board of Trade to refer to Mr. Antrobus's letter (10042/1908) of the 9th. instant

transmitting, to be laid before the Board of Trade, a

copy of a Despatch from the Governor of Hong Kong forwarding copies of Ordinance No. 3 of 1908 of the

Legislature of the Colony authorizing the removal of Fire Insurance Companies from the Register of Companies

when it appears, from the report of inspectors appointed

by the Governor, that the Company is unable to meet its

liabilities and pay its creditors. The Ordinance

further provides that, when the name of the Company has

been so struck off and notice has been given in the. Gazette, the Company whose name is so struck off shall

be dissolved.

I am to point out that the Ordinance, as drawn, does not safeguard in any way the rights of creditors of or shareholders in the Company. There is not only no provision for any distribution of the assets of the Company among the persons interested, but, apparently, no person interested would be able, after dissolution, to obtain a winding-up Order. This constitutes a

defect/