193704-1932-Supplementary-Bill-read-a-second-time--Companies — Page 74

Avoidance of

1600

(b) where any other action or proceeding is pending against the company, apply to the court having jurisdiction to wind up the company to restrain further proceedings in the action or proceeding;

and the court to which application is so made may, as the case may be, stay or restrain the proceedings accordingly on such terms as it thinks fit.

168. In a winding up by the court, any

dis- dispositions position of the property of the company, including of property, things in action, and any transfer of shares, or altera- &c. after

tion in the status of the members of the company, made after the commencement of the winding up, shall, unless the court otherwise orders, be void.

commence ment of

winding up. 19 & 20 Ge

5, 23,

s. 173.

Avoidance

of attach-

ments, &c.

169. Where any company is being wound up by the court, any attachment, sequestration, distress, or execution put in force against the estate or effects of 19 & 20 Geo. the company after the commencement of the winding

up shall be void to all intents.

5, c. 23,

s. 174.

Commence-

ment of

winding up by the court.

19 & 20. Geo.

5, c. 23, s. 175.

Copy of

order to be forwarded

to registrar. 19 & 20 Geo. 5, c. 23, s. 176.

Actions stayed on winding-up

order.

19 & 20 Geo. 5, c. 23, s. 177.

Effect of

winding-up

order.

19 & 20 Geo 5, c. 23, s. 178.

Official

receiver in bankruptcy to be official

receiver for winding-up purposes. 19 & 20 Geo 5, c. 23, s. 179.

Commencement of Winding Up.

170.-(1) Where before the presentation of a peti- tion for the winding up of a company by the court a resolution has been passed by the company for voluntary winding up, the winding up of the com- pany shall be deemed to have commenced at the time of the passing of the resolution, and unless the court, on proof of fraud or mistake, thinks fit other- wise to direct, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken.

(2) In any other case, the winding up of a company by the court shall be deemed to commence at the time of the presentation of the petition for the winding up.

Consequences of Winding-up Order.

171. On the making of a winding-up order, a copy of the order must forthwith be forwarded by the company, or otherwise as may be prescribed, to the registrar of companies, who shall make a minute thereof in his books relating to the company.

172. When a winding-up order has been made, or a provisional liquidator has been appointed, no action or proceeding shall be proceeded with or commenced against the company except by leave of the court, and subject to such terms as the court may impose.

173. An order for winding up a company shall operate in favour of all the creditors and of all the contributories of the company as if made on the joint petition of a creditor and of a contributory.

Official Receiver in Winding Up.

174.-(1) For the purposes of this Ordinance so far as it relates to the winding up of companies by the court the term "official receiver' means the official receiver, if any, attached to the court for bankruptcy purposes, or if there is more than one such official receiver, then such one of them as the Governor may appoint, or, if there is no such official receiver, then an officer appointed for the purpose by the

Governor

(2) But, for the purposes of this Ordinance, so far as it relates to the winding up of China companies or Hong Kong China companies by or under the supervision of the Supreme Court for China, and so far as it relates to the voluntary winding-up of China companies and Hong Kong China companies by liquidators appointed to act within the limits of the China Orders in Council, 'official receiver" shall mean any person appointed in that behalf by the judge of the Supreme Court for China.

If