17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 51

Report by official receiver.

8 Edw. 7 C.

69 s. 148.

Appoint- ment, re- muncration

and title of liquidators. Ib. s. 149.

500

pany, or by such of the persons being or having been directors or officers of the company, or having taken part in the formation of the company at any time within one year before the winding-up order, as the official receiver, subject to the direction of the court, may require to submit and verify the same.

(3) The statement shall be submitted within twenty-eight days from the date of the order, 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 reiver, out of the assets of the empany, such costs and expenses in- enrred in and about the preparation and making of the statement and affidavit as the oficial receiver may consider reasonable, subject to an appeal to the court.

(5) If any person, without reasonable exense, makes default in complying with the requirements of this section, he shall be liable to a fiuc nor exceeding one hundred dollars for every day during which the default continues.

#

(6) Any person stating himself in writing to be ereditor or contributory of the company shall be entitled 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 toereal or extract ttherefrom. But any person untruthfuily so stating himself to be a creditor or contributory shall be guilty of a con- empt of court and shall be punishable accordingly application of the liquidator or of the official receiver,

on the

142.--(1) Where the court has made a winding-up order, the official receiver shall as soon as practicable after receipt of the statement of the company's affairs, submit a preliminary report to the court--

() as to the amount of capital issued, subscribed, and paid up, and the estimated amount of assets and liabilities; and

(b) if the company has failed, as to the causes of

the failure; and

(e) whether in his opinion further inquiry is desir- able as to any matter relating to the promotion, formation, or failure of the company, or the condnet of the business thereof.

(2) The official receiver may also, if he thinks fit, make a further report, or further reports, stating the manner in which the company was formed and whether in his opinion any frand has been committed by any person in its promo- tion or formation, or by any director or officer of the company in relation to the company since the formation thereof, and any other matters which in his opinion it is desirable to bring to the notice of the court.

Liquidators.

143.-(1) For the purpose of conducting the proceed- ings in winding up a company and performing such duties in reference thereto as the court may impose, the court may appoint a liquidator or liquidators,

(2) The court may make such an appointment provi- sionally at any time after the presentation of a petition and before the making of an order for winding up:

(a) a provisional liquidator is appointed before the making of a winding-up order, the official re- ceiver or any other fit person may be appointed: (3) On a winding-up order being made the official receiver shall by virtue of his office become the provisional liquidator and shall continue to act as such until he or another person becomes liquidator and is capable of acting as such: (e) When a person other than the official receiver is appointed liquidator he shall not be capable of acting as liquidator until he has notified his appointment to the registrar of companies and given security to the satisfaction of the official receiver.

1!