204169-1933-Supplementary-Draft-Bills--Companies-Amendment-Naval-Volunteer — Page 1

1172

LEGISLATIVE COUNCIL.

Draft Bills.

No. S. 470.-The following bills are published for general information:-

(C.S.O. 3/4299/32 II.)

[No. 288.12.33.-3.1

A BILL

Short title.

Amendment of Ordin-

ance No. 39

of 1932,

s. 94 (11).

Amendment of Ordinan- ance No. 39 of 1932, s. 134 (1).

Repeal of Ordinance No. 39 of 1932, s. 144.

Amendment

of Ordin.

INTITULED

An Ordinance to amend the Companies Ordinance, 1932.

Be it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:--

1. This Ordinance may be cited as the Companies Amendment Ordinance, 1933.

2. Section 94 (11) of the Companies Ordinance, 1932, is amended by the substitution of the word "be" for the word "he" before the word "restored" in the fifth line.

3. Section 134 (1) of the Companies Ordinance, 1932, is amended by the substitution of the words "the court may direct" for the words "they direct" in the fourth line.

4. Section 144 of the Companies Ordinance, 1932, is repealed.

5. Paragraphs (a), (b) and (c) of section 251 (1) of the ance No. 39 Companies Ordinance, 1932, are repealed and the following

paragraphs are substituted therefor:

of 1932,

s. 251 (1).

Amendment of Ordin- ance No. 39 of 1932, s. 263.

(a) all debts due from the Company to the Crown at the relevant date, and having become due and payable within twelve months next before that date:

(b) all wages and salary (including commission provided that the amount thereof is fixed or ascertainable at the relevant date) of any clerk or servant in respect of services rendered to the company during four months before the relevant date, not exceeding three hundred dollars;

(c) all wages of any labourer or workman not exceeding one hundred dollars, whether payable for time or for piece work, in respect of services rendered to the company during four months before the relevant date.

6. The following sub-section is added at the section 263 of the Companies Ordinance, 1932:-

end of

(8) The Court may direct that the whole or part of any costs and expenses properly incurred by the liquidator in proceedings duly brought by him under this section shall be defrayed as expenses incurred by the liquidator under this Ordinance in relation to the winding up of Companies. Sub- ject to any direction under this sub-section and to any mortgages or charges on the assets of the Company and any debts to which priority is given by section 251 of this Ordin- ance, all such costs and expenses as aforesaid shall be payable out of those assets in priority to all other liabilities payable thereout.

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