30684-1913-Companies-Winding-up-Rules — Page 29

THE HONGKONG GOVERNMENT GAZETTE, FEBRUARY 14, 1913.

Next. The costs of any person properly employed

by the Liquidator.

Next.

The remuneration of the Liquidator.

Next. The actual out-of-pocket expenses necessari- ly incurred by the Committee of Inspection, subject to the approval 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 taxation 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 mentioned in the bills or charges has been duly sanctioned. Provided 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.

STATEMENTS BY LIQUIDATOR TO THE REGISTRAR OF JOINT STOCK COMPANIES.

176. The winding-up of a Company shall, for the pur- Conclusion of poses of section 214 of the Ordinance, be deemed to be winding-up. concluded :-

(a.) In the case of a Company wound up by order of the Court, at the date on which the order dissolving the Company has been reported by the Liquidator to the Registrar of Companies or at the date of the order of the Court releas- ing the Liquidator pursuant to section 152 of the Ordinance.

(b.) In the case of a Company wound up voluntarily, or under the supervision of the Court, at the date of the dissolution of the Company, unless at such date any funds or assets of the Company remain unclaimed or undistributed in the hands or under the control of the Liquidator, or any person who has acted as Liquidator, in which case the winding-up shall not be deemed to be concluded until such funds or assets have either been distributed or paid into the Companies Li- quidation Account at such bank as the Colonial Treasurer may direct.

177. The statements with respect to the proceedings in Times for and position of a liquidation of a Company, the winding-up sending

Liquidator's of which is not concluded within a year after its commence- statements, ment, shall be sent to the Registrar of Companies twice in and regula- tions appli- every year as follows:

cable thereto.

(1.) The first statement commencing at the date when a Liquidator was first appointed and brought down to the end of twelve months from the commencement of the winding-up, shall be sent within 30 days from the expiration of such twelve months, or within such extended period as the Court may sanction, and the sub- sequent statements shall be sent at intervals of half a year, each statement being brought down to the end of the half-year for which it is sent. (2.) Subject to the next succeeding Rule, Form No. Form 88.

88, with such variations as circumstances may require, shall be used, and the directions speci- fied in the Form shall (unless the Court other- wise directs) be observed in reference to every

statement.

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