228322-1936-Companies-Winding-up-Rules-1936 — Page 37

THE HONG KONG GOVERNMENT GAZETTE, DECEMBER 31, 1936.

able out of

179.-(1) The assets of a Company in a winding-up by Costs pay- the Court, remaining after payment of the fees and expenses the assets. properly incurred in preserving, realising or getting in the R. 192. assets, including where the Company has previously commen- ced to be wound up voluntarily such remuneration, costs, and expenses as the Court may allow to a Liquidator appointed in such Voluntary Winding-up shall, subject to any order of the Court, be liable to the following payments, which shall be made in the following order of priority, namely:----

First. The taxed costs of the petition, including the taxed costs of any person appearing on the petition whose costs are allowed by the Court.

Next. The remuneration of the special manager (if any).

Next.-The costs and expenses of any person who makes or concurs in making, the Company's statement of affairs.

Next. The taxed charges of any shorthand writer ap- pointed to take an examination. Provided that where the shorthand writer is appointed at the instance of the Official Receiver the cost of the shorthand notes shall be deemed to be an expense incurred by the Official Receiver in getting in and realising the assets of the Company.

Next. The necessary disbursements of any Liquidator appointed in the winding-up by the Court, other than expenses properly incurred in preserving, realising or getting in the assets heretofore provided for.

Next. The costs of any person properly employed by any such Liquidator.

Next. The remuneration of any such Liquidator.

Next. The actual out-of-pocket expenses necessarily incurred by the Committee of Inspection, subject to the ap- proval of the Official Receiver.

(2) No payments in respect of bills or charges of solici- Costs. tors, managers, accountants, auctioneers, brokers, or other persons, other than payments for costs and expenses incurred and sanctioned under Rule 43, and payments of bills which have been taxed and allowed under orders made for the taxa- tion thereof, shall be allowed out of the assets of the Company without proof that the same have been considered and allowed by the Registrar. The Taxing Officer shall satisfy himself before passing such bills or charges that the employment of the solicitor or other person in respect of the matters men- tioned in the bills or charges has been duly sanctioned: Pro- vided that the Official Receiver when acting as Liquidator may without taxation pay and allow the costs and charges of any person other than a solicitor employed by him where such costs and charges are within the scale usually allowed by the Court and do not exceed the sum of $50.

(3) Nothing contained in this Rule shall apply to or affect costs which, in the course of legal proceedings by or against a Company which is being wound up by the Court, are ordered by the Court in which such proceedings are pending or a Judge thereof to be paid by the Company or the Liquidator, or the rights of the person to whom such costs are payable.

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