23164-1911-Supplementary-Bill-re-published--Companies — Page 61

Notice by

liquidator of his appoint- ment.

fb. s. 187.

(iv) The liquidator may, without the sauction 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 themselves: (ei) The list of contributories shall be primâ facie evidence of the liability of the persons named therein to be contributories:

(vii) 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:

(via) If from any cause whatever there is no liquidator acting, the court may, on the application of a contributory, appoint a liquida-

tor:

(ia) The court may, ou cause shown, remove a liquidator, and appoint another liquidator.

180.-(1) The liquidator in a voluntary winding-up shall, within five weeks after his appointment, file 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 fine not exceed- ing fifty dollars for every day during which the default continues.

per-

Rights of

181.--(1) Every liquidator appointed by a company in creditors in a voluntary

a voluntary winding-up shall, within three weeks from his winding-up. appointment, send notice by registered post[] to all

to the Ib. 9. 188. sons who appear to him to be creditors of the company that official

a meeting of the creditors of the company will be held on a receiver date, not being less than four nor more than five weeks and after his appointment, and at a place and hour, to be specified in the notice, and shall also advertise notice of the meeting once in the Gazette and once at least in two local newspapers circulating in the district where the principal place of business of the company was situate.

at which

receiver shall have the right

(2) At the meeting to be held in pursuance of the fore- going provisions of this section [ ] the creditors shall deter- the official mine whether an application shall be made to the court for the appointment of any person as liquidator in the place of or jointly with the liquidator appointed by the company, or for the appointment of a committee of inspection, and, if the creditors so resolve, an application may be made accord- sent and to ingly to the court at any time, not later than fourteen days speak

after the date of the meeting, by any creditor appointed for the purpose at the meeting.

to be pre-

(3) On any such application the court may make an order either for the removal of the liquidator appointed by the company and for the appointment of some other person as liquidator or for the appointment of some other person to act as liquidator jointly with the liquidator appointed by the company, or for the appointment of a committee of inspec- tion either together with or without any such appointment of a liquidator or such other order as, having regard to the interests of the creditors and contributories of the company, may seem just.

(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 creditors 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.