240
Disqualifica
tion for appoint.
ment as liquidator. 19 & 20 Geo.
5, c. 23,
B. 278
Enforce- ment of duty of liquidator to make
returns, &c. 19 & 20 Geo. 5, c. 23, s. 279.
Notification that a com- pany is in liquidation,
19 & 20 Geo.
5, c. 23,
s. 280.
Exemption
of certain
documents
from stamp duty on
winding up of companies 19 & 20 Geo.
5, c. 23,
s. 281.
106
Supplementary Provisions as to Winding up. 264.—(1) A body corporate shall not be qualified for appointment as liquidator of a company, whether in a winding up by or under the supervision of the court or in a voluntary winding up, and any appointment made in contravention of this provision shall be void.
(2) Nothing in this section shall disqualify a body corporate from acting as liquidator of a company if acting under an appointment made before the com- mencement of this Ordinance, but subject as aforo- said any body corporate which acts as liquidator of a company shall be liable to a fine not exceeding one thousand dollars.
265.-(1) If any liquidator, who has made any default in filing, delivering or making auy return, account or other document, or in giving any notice which he is by law required to file, deliver, make or give, fails to make good the default within fourteen days after the service on him of a notice requiring him to do so, the court may, on an application made to the court by any contributory or creditor of the company or by the registrar of companies, make an order directing the liquidator to make good the default within such time as may be specified in the order.
(2) Any such order may provide that all costs of and incidental to the application shall be borne by the liquidator.
(3) Nothing in this section shall be taken to pre- judice the operation of any enactment imposing penalties on a liquidator in respect of any such default as aforesaid.
266.-(1) Where a company is being wound up, whether by or under the supervision of the court or voluntarily, every invoice, order for goods or business letter issued by or on behalf of the company or a liquidator of the company, or a receiver or manager of the property of the company, being a document
on or in which the name of the company appears, shall contain a statement that the company is being wound up.
(2) If default is made in complying with this section, the company and every director, manager, secretary or other officer of the company, and every liquidator of the company and every receiver manager, who knowingly and wilfully authorises or permits the default, shall be liable to a fine of two hundred dollars.
OF
267. In the case of a winding up by the court of a company registered in the Colony, or of a creditors' voluntary winding up of such a company-
(a) every assurance relating solely to freehold or leasehold property, or to any mortgage, charge or other encumbrance on, or any estate, right or interest in, any real or personal property, which forms part of the assets of the com- pany and which, after the execution of the assurance, either at law or in equity, is or remains part of the assets of the company;
and
(b) every power of attorney, proxy paper, writ, order, certificate, affidavit, bond or other instrument or writing relating solely to the property of any company which is being so wound up, or to any proceeding under any such winding-up,
shall be exempt from duties chargeable under the enactments relating to stamp duties.
In this section the expression "assurance" includes deed, conveyance, assignment and surrender.
¡
107
268. Where a company is being wound up, all Books of books and papers of the company and of the liquida company to tors shall, as between the contributories of the be evidence. company, be prima facie evidence of the truth of all
19 & 20 Geo. 5, c. 23, matters purporting to be therein recorded.
5. 282.
269. (1) When a company has been wound up Disposal and is about to be dissolved, the books and papers of of books the company and of the liquidators may be disposed and papers of as follows, that is to say:—
of company. 19 & 20 Geo. (a) In the case of a winding up by, or subject 5, c. 23,
to the supervision of, the court in such way s. 283. as the court directs;
(b) In the case of a members' voluntary winding up, in such way as the company by extra- ordinary resolution directs, and, in the case of a creditors' voluntary winding up, in such way as the committee of inspection or, if there is no such committee, as the creditors of the company, may direct.
(2) After five years from the dissolution of the company no responsibility shall rest on the company, the liquidators, or any person to whom the custody of the books and papers has been committed, by reason of any book cr paper not being forthcoming to any person claiming to be interested therein.
(3) Provision may be made by general rules for enabling the official receiver to prevent, for such period (not exceeding five years from the dissolution of the company) as he think proper, the destruction of the books and papers of a company which has been wound up, and for enabling any creditor or contributory of the company to make representations to him, and to appeal to the court from any direction which may be given by him in the matter.
(4) If any person acts in contravention of any general rules made for the purposes of this section or of any direction of the official receiver thereunder. he shall be liable to a fine not exceeding one thousand dollars.
270.-(1) If where a company is being wound up Informa the winding up is not concluded within one year tion as to after its commencement, the liquidator shall, at such pending intervals as may be prescribed, until the winding up 19 & 20 Geo. liquidations, is concluded, send to the registrar of companies & 5, c. 23, statement in the prescribed form and containing the s. 284. prescribed particulars with respect to the proceedings
in and 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 bis agent, at all reasonable times, on payment of the prescribed feo, to inspect the statement, and to receive a copy thereof or extract therefrom.
(3) If a liquidator fails to comply with this section, he shall be liable to a fine not exceeding five hundred dollars for each day during which the default con- tinues, and any person untruthfully stating himself as aforesaid to be a creditor or contributory, shall be guilty of a contempt of court, and shall, on the application of the liquidator or of the official receiver, be punishable accordingly.
271.-(1) If, where a company is being wound up Unclaimed it appears either from any statement sent to the assets to registrar under the last foregoing section or other- be paid to
Companies wise that a liquidator has in his hands or under his
Liquidation control any money representing unclaimed or undia- Account. tributed assets of the company which have remained 19 & 20 Geo. unclaimed or undistributed for six months after the 5, c. 23,
6. 285. date of their receipt, the liquidator shall forthwith
241
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