193704-1932-Supplementary-Bill-read-a-second-time--Companies — Page 106

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, B. 280.

Exemption

of certain documents

from stamp duty on winding up of companies 19 & 20 Geo. 5, c. 23, 8. 281.

1632

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 afore- 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 any 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.

(8) 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 or manager, who knowingly and wilfully authorises or permits the default, shall be liable to a fine of two hundred dollars.

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.