20388-1911-Ordinance-passed-and-assented-to--Companies-No-58-of-1911 — Page 63

662 THE HONGKONG GOVERNMENT GAZETTE, DECEMBER 15, 1911.

Notice by liquidator of his appoint

ment.

8 Edw. 7 c 69. 187.

Rights of

creditors in a voluntary winding-up.

b. 8. 188

(ir) The liquidator may, without the sanction of

the court, exercise all powers by this Ordinance given to the liquidator in a winding up by the

court:

(e) The liquidator may exercise the powers of the court under this Ordinance of settling a list of contributories, and of making calls, and shall pay the debts of the company, and adjust the rights of the contributories among theinselves : (r) The list of contributories shall be prima facie evidence of the liability of the persons maimed therein to be contributorius :

(vi) When several liquidators are appointed, every power hereby given 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:

(chi) If from any cause whatever there is 10 liquidator acting, the court may, on the application of a contributory, appoint a Equida-

tor:

(a) The court may, on cause shown, remove a

liquidator, and appoint auother liquidator.

180.-(1) The liquidator in a voluntary winding-up shall, within five weeks after his appolarment, fe with the registrar of companies a notice of his appointment in the form prescribed by the Governor.

(2) If the liquidator fails to comply with the require- ments of this section he shall be liable to a fire nor exceed- ing fifty dollars for every day during which the default continues,

181 −(1) Every liquidator appointed by a company in a voluntary winding-up shall, within three weeks from his appointment, send notice by registered post to the official receiver and 10 all persons who appear to him to be greditors of the company that a meeting of the credi-ons of the com- pany will be held on a date, not being less than four nor more than five weeks after his appointmen, and at a place and hour, to be specified in the notice, and chali also adver- tise notice of the meeting once in the Gas the and once at least in two local newspo; er eirenlating in de district where the principal place of business of the company was

simate.

(2). At the meeting to be held in pursu mee of the fore- geing provisions of this section at wbi hovedfiial receiver shall have the right to be present and to sp ak the creditors shall determine whether an application shall 'e made to the court for the oppoinmecar of any person as aidater in the place of or jointly with de liquidater ep. Fed by the company, or for the appointment of a commninge E inspee- tion, and, if the creditors so resolve. an studieain may be made accordingly to the court at any time, no later than fourteen days after the due of the meeting, by any creditor appointed for the purpose at the meeting.

(3) On any such application the court may make an order either for the removal of the li pildoer a niated by the company and for the appointment of ser person as liquidator or for the appointment of sine oll e. person to act as liquidator jointly with the liquidator dated by the company, er for the appointn.eut of a colon tuer of inspec- tion either together with or without any such - appointment of a liquidator or such other order as, beving regard to the interests of the creditors and contributor.esafe company, may seem jusr,

(4) No appeal shall lie from an order of the court upon such application under this section.

(5) The court shall make such order as to the costs of the application as it may think fit, and if it is of opinion that, having regard to the interests of the ere litors in the liquidation, there were reasonable grounds for the applica- tion, may order the costs of the application to be paid out of the assets of the company, notwithstanding that the application is dismissed or otherwise disposed of adversely to the applicant.