ó.
50
Bankruptcy or, if any other officer be appointed
for the purpose of winding up by the Governor in
the notification of the order, then in such officer.
(b.) The Official Receiver in Bankruptcy or such other
officer shall proceed to wind up the affairs of the
Society, and, after satisfying and providing for all
the debts and liabilities of the Society and the
costs of the winding-up, shall divide the surplus
assets (if any) of the Society amongst the members
of the Society according to the rules of such
Society (if any), or, if there are no such rules.
applicable to such case, then equally, but, if by
reason of the great number of members, or the
difficulty of ascertaining the persons entitled to
such assets, or if from any other cause such a
division as aforesaid is in the opinion of the
Official Receiver or such other officer as aforesaid
impracticable, he shall prepare and submit to a
Judge of the Supreme Court for his approval a scheme
for the application of such surplus assets to
purposes for the benefit of that portion of the
public to which the members of the Society more
particularly belonged, or of the public generally.
(c.) Such scheme when submitted for approval may be
amended by the Judge in such a way as he shall think
proper under the circumstances of the case.
(d.) The approval of the Judge to such scheme or amended
scheme shall be denoted by the endorsement thereon
of a memorandum of such approval signed by the Judge,
and by the same being sealed with the seal of the
Court, and upon this being done the surplus assets
the subject of such scheme shall be held and applied
by the Official Receiver or such other officer as
No comments yet.
Private notes are available after approval.