193569-1932-Supplementary-Bill-read-a-first-time--Companies — Page 94

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(b) without sanction, exercise any of the other powers by this Ordinance given to the liquida- tor in a winding up by the court:

(c) exercise the power of the court under this Ordinance of settling a list of contributories, and the list of contributories shall be primâ facie evidence of the liability of the persons named therein to be contributories:

(d) exercise the power of the court of making

calls :

(e) summon general meetings of the company

for the purpose of obtaining the sanction of the company by special or extraordinary resolution or for any other purpose he may think fit.

(2) The liquidator shall pay the debts of the com- pany and shall adjust the rights of the contributories among themselves.

(3) When several liquidators are appointed, any power given by this Ordinance may be exercised by such one or more of them as may be determined at the time of their appointment, or, in default of such determination, by any number not less than two.

238.--(1) If from any cause whatever there is no Power of liquidator acting, the court may appoint a liquidator. court to

(2) The court may, on cause shown, liquidator and appoint another liquidator.

remove

appoint and

remove

& liquidator

in voluntary winding up. 19 & 20 Geo. 5, c. 23, s. 249.

239.-(1) The liquidator shall, within five weeks Notice by after his appointment, deliver to the registrar of liquidator companies for registration a notice of his appointment of his in the form prescribed.

appoint- ment. 19 & 20 Geo 5, c. 23,

(2) If the liquidator fails to comply with the require- ments of this section he shall be liable to a fine not. 250. exceeding fifty dollars for every day during which the default continues,

Arrange

240.-(1) Any arrangement entered into between a company about to be, or in the course of being, ment when wound up and its creditors shall, subject to the right binding on of appeal under this section, be binding on the com- creditors. pany if sanctioned by an extraordinary resolution, and 5, c. 23, on the creditors if acceded to by three-fourths in s. 251. number and value of the creditors.

(2) Any creditor or contributory may, within three weeks from the completion of the arrangement, appeal to the court against it, and the court may thereupon, it thinks just, amend, vary, or confirm the arrangement.

19 & 20 Geo.

241.-(1) The liquidator or any contributory or Power to creditor may apply to the court to determine any apply to question arising in the winding up of a company, or court to to exercise, as respects the enforcing of calls, or any tions deter have ques- other matter, all or any of the powers which the mined or court might exercise if the company were being wound powers up by the court.

(2) The court, if satisfied that the determination of the question or the required exercise of power will be just and beneficial, may accede wholly or partially to the application on such terms and conditions as it thinks fit, or may make such other order оп the application as it thinks just.

exercised. 19 & 20 Geo 5, c. 23, s. 252.

242. All costs, charges, and expenses properly Costs of incurred in the winding up, including the remunera- voluntary tion of the liquidator, shall be payable out of the winding up. assets of the company in priority to all other claims.

19 & 20 Geo.

5, c. 23.

s. 254

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