23164-1911-Supplementary-Bill-re-published--Companies — Page 46

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Tables and Forms.

119.-(1) The forms in the Third Schedule to this Application Ordinance or forms as near thereto as circumstances admit and altera- shall be used in all matters to which those forms refer.

tion of tables and forms.

(2) The Governor may alter any of the tables and forms 76. 8. 118. in the First Sebedule to this Ordinance, so that he does not increase the amout of fees payable to the registrar in the said schedule mentioned, and may alter or add to the forms in the said Third Schedule.

(3) Any such table or form, when altered, shall be published in the Gazette, and thenceforth shall have the same force as if it were included in one of the Schedules to this Ordinance bat no alteration made by the Governor in Table A in the said First Schedule shall affect any com- pany registered before the alteration, or repeal, as resports that company, any portion of that table.

Arbitrations.

120.—(1) A company may by writing under its common Arbitration seal agree to refer and may refer to arbitration, in accord- between aure with the provisions of the Railway Companies Arbi- companies tration Act, 1879, of the Imperial Parliament, any existing 7, s. 119. or future difference between itself and any other company

or person.

(2) Companies parties to the arbitration may delegate to the arbitrator power to settle any terms or to determine any matter capable of being lawfully settled or determined by the companies themselves, or by their directors or other managing body.

(3) All the provisions of the Railway Companies Arbi- tration Act, 1859, shall apply to arbitrations between companies and persons in pursuance of this Ordinance ; and in the construction of those provisions "the companies" shall include companies under this Ordinance,

(4) For the purposes of the application of the said Act to this Ordinance, the words "the Board of Trade" there- in occurring shall be read as meaning the Governor and the words "all the Superior Courts of Law and Equity "in the United Kingdom according to their respective “jurisdiction and the words "any of His Majesty's Superior Courts of Record at Westminster, or as the case may be at Dublin" shall be read as meaning the court,

Power to compromise,

and others.

with credi- tors and

121-(1) Where a compromise or arrangement is pro- Power to posed between a company and its ereditors or any class of compromise them, or letween the company and its members or any class of them, the court may, on the application in a sun- members. mary way of the company or of any creditor or member of s Edw. 7 . the company or, in the case of a company being wound up, 69 s. 120. of the liquidator, erder a meeting of the creditors [or or class of of the members of the company or class of members, as the creditors case may be, to be summoned in such manner as the court

directs.

(2) If a majority in number representing three-fourths in value of the creditors or class of creditors, or members. or class of menil ers, as the case may be, present either in person or by proxy at the meeting, agree to any com- promise or arrangement, the compromise or arrangement shall, if sanctioned by the court, be binding on all the creditors or the class of creditors, or on the members or class of members, as the case may be, and also on the company or, in the case of a company in the course of being wond up, on the liquidator and contributories of the company.

means

(3) In this section the expression “company any company liable to be wound up under this Ordinance.

Meaning of Private Company,”

""

122.-(1) For the purposes of this Ordinance the ex- Meaning of pression "private company means a company which by "private itsarticles-

(a) restricts the right to transfer its shares; and

company."

Ib. s. 121.

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