Ordinance No. 10 of 1931.
Power of court to
assess
damages against delinquent directors, &c.
19 & 20 Geo. 5, c. 23,
☐ 276.
Ordinance No. 10 of 1931.
Frosecution
officers and members
of
company.
1630
by which the declaration was made or the court before which the person was convicted, as the case may be, and in relation to the granting of leave means any court having jurisdiction to wind up the company.
(5) For the purposes of this section, the expression "director" shall include any person in accordance with whose directions or instructions the directors of a company have been accustomed to act.
(6) The provisions of this section shall have effect notwithstanding that the person concerned may be criminally liable in respect of the matters on the ground of which the declaration is to be made, and where the declaration under subsection (1) of this section is made in the case of a winding up the declaration shall be deemed to be a final judgment within the meaning of paragraph (g) of subsection (1) of section three of the Bankruptcy Ordinance, 1931.
(7) It shall be the duty of the official receiver or of the liquidator to appear on the hearing of an application for leave under subsection (4) of this section, and on the hearing of an application under that subsection or under subsection (1) of this section the official receiver or the liquidator, as the case may be, may himself give evidence or call witnesses.
262.—(1) If in the course of winding up a com- pany it appears that any person who has taken part in the formation or promotion of the company, or any past or present director, manager, or liquida- tor, or any officer of the company, has misapplied or retained or become liable or accountable for any money or property of the company, or been guilty of any misfeasance or breach of trust in relation to the company, the court may, on the application of the official receiver, or of the liquidator, or of any creditor or contributory, examine into the conduct of the promoter, director, manager, liquidator, or officer, and compel him to repay or restore the money or property or any part thereof respectively with interest at such rate as the court thinks just, or to contribute such sum to the assets of the company by way of compensation in respect of the misapplica- tion, retainer, misfeasance, or breach of trust as the court thinks just.
(2) The provisions of this section shall have effect uotwithstanding that the offence is one for which the offender may be criminally liable.
(3) Where in the case of a winding up an order for payment of money is made under this section, the order shall be deemed to be a final judgment within the meaning of paragraph (g) of subsection (1) of section three of the Bankruptcy Ordinance, 1931.
263.—(1) If it appears to the court in the course of delinquen of a winding up by, or subject to the supervision of, the court that any past or present director, manager or other officer, or any member, of the company has been guilty of any offence in relation to the company for which he is criminally liable, the court may, either on the application of any person interested in the winding up or of its own motion, direct the liquidator either himself to prosecute the offender or to refer the matter to the Attorney General.
19 & 20 Geo. 5, c. 23, 8. 277.
(2) If it appears to the liquidator in the course of a voluntary winding up that any past or present director, manager or other officer, or any member, of the company has been guilty of any offence in relation to the company for which he is criminally liable, he shall forthwith report the matter, to the Attorney
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