193704-1932-Supplementary-Bill-read-a-second-time--Companies — Page 87

1613

(3) the paying, delivery, conveyance, surrender or transfer of money, property, books papers to the liquidator;

(4) the making of calls;

or

(5) the fixing of a time within which debts and

claims must be proved;

to be exercised or performed by the liquidator as an officer of the court, and subject to the coat al of the court:

Provided that the liquidator shall not, without the special leave of the court, rectify the resister of members, and shall not make any call withc it either the special leave of the court or the sanctica of the committee of inspection.

213.-(1) When the affairs of a company have Dissolution been completely wound up, the court shall nake an of company. order that the company be dissolved from the date 19 & 20 Geo. of the order, and the company shall be dissolved 5, c. 23, accordingly.

(2) The order shall within fourteen days from the date thereof be reported by the liquidator to the registrar of companies who shall make in his books a minute of the dissolution of the company.

(3) If the liquidator makes default in complying with the requirements of this section, he shall be liable to a fine not exceeding fifty dollars for every day during which he is in default.

(iii) VOLUNTARY WINDING UP.

Resolutions for, and commencement of Voluntary

Winding Up.

s. 221.

214.-(1) A company may be wound up volun- Circum- tarily-

stances in which com- pany may

(a) When the period, if any, for the duration

of the company by the articles expires, or be wound the event, if any, occurs, on the occurrence up volun- of which the articles provide that the com- 19 & 20 Geo.

tarily. pany is to be dissolved, and the company 5, c. 23, in general meeting has passed a resolution s. 225. requiring the company to be wound up voluntarily :

(b) If the company resolves by special resolution that the company be wound up voluntarily: (c) If the company resolves by extraordinary resolution to the effect that it cannot by reason of its liabilities continue its business, and that it is advisable to wind up.

(2) In this Ordinance the expression "a resolution for voluntary winding up" means a resolution passed under any of the provisions of subsection (1) of this section.

215.-(1) When a company has passed a resolu- Notice of tion for voluntary winding up, it shall, within seven resolution days after the passing of the resolution, give notice to wind up of the resolution by advertisement in the Gazette, 19 & 20 Geo. voluntarily. (and, in the case of a China company, in some 5, c. 23, newspaper circulating in the place where such com- s. 226. pany has its registered office).

this

(2) If default is made in complying with section, the company and every officer of the com- pany who is in default shall be liable to a default fine, and for the purposes of this subsection the liquidator of the company shall be deemed to be an officer of the company.

216. A voluntary winding up shall be deemed to Commence- commence at the time of the passing of the resolu ment of tion for voluntary winding up.

voluntary winding up. 19 & 20 Geo.

5, c. 23,

5. 227.

A