193569-1932-Supplementary-Bill-read-a-first-time--Companies — Page 106

1367

Supplementary Provisions as to Winding up.

ment as

264.-(1) A body corporate shall not be qualified Disqualifica- for appointment as liquidator of a company, whether tion for in a winding up by or under the supervision of the appoint-

a voluntary winding up,

and any liquidator. appointment made in contravention of this provision 19 & 20 Geo. shall be void.

5, c. 23, s. 278.

court or in

(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 afore- said any body corporate which acts as liquidator of a company shall be liable to a fine not exceeding one thousand dollars.

to make

265.-(1) If any liquidator, who has made any Enforce- default in filing, delivering or making any return, ment of account or other document, or in giving any notice duty of which he is by law required to file, deliver, make or liquidator give, fails to make good the default within fourteen returns, &c. days after the service on him of a notice requiring 19 & 20 Geo. him to do so, the court may, on an application made 5, c. 23, to the court by any contributory or creditor of the s. 279. 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.

that a com-

266.—(1) Where a company is being wound up, Notification whether by or under the supervision of the court or voluntarily, every invoice, order for goods or business any is in letter issued by or on behalf of the company or a 19 & 20 Geo. liquidation. liquidator of the company, or a receiver or manager 5, c. 23, of the property of the company, being a document s. 280, 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.

or

267. In the case of a winding up by the court of Exemption a company registered in the Colony, or of a creditors' of certain voluntary winding up of such a company-

documents from stamp

(a) every assurance relating solely to freehold or duty on

leasehold property, or to any mortgage, charge winding up or other encumbrance on, or any estate, right 19 & 20 Geo.

of companies or interest in, any real or personal property, 5. c. 23, which forms part of the assets of the con- s. 281. 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.