30684-1913-Companies-Winding-up-Rules — Page 8

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THE HONGKONG GOVERNMENT GAZETTE, FEBRUARY 14, 1913.

Information subsequent

41. After the statement of affairs of a Company has been submitted to the Official Receiver it shall be the duty to statement of each person who has made or concurred in making it, if

of affairs.

Default.

Expenses of statement of affairs.

Appoint-

ment of Liquidator

on report of meetings of creditors and con- tributories.

Form 23.

Forms 24

and 99 (7).

Form 26.

and when required, to attend on the Official Receiver and answer all such questions as may be put to him, and give all such further information as may be required of bim by the Official Receiver in relation to the Statement of Affairs,

42. Any default in complying with the requirements of section 142 of the Ordmance, may be reported by the Official Rec.iver to the Court.

43. A person who is required to make or coneur in making any statement of affairs of a Company shall, before incurring any costs or expenses in and about the prepara- tion and making of the statement, apply to the Official Receiver for his sanction, and submit a statement of the estimated costs and expenses which it is intended to incur; and, except by order of the Court, no person shall be allowed out of the assets of the Company any costs or expenses which have not before being incurred been sanc- tioned by the Official Receiver,

APPOINTMENT OF LIQUIDATOR IN A WINDING-UP

BY THE COurt.

44.-(1.) As soon as possible after the first meetings of creditors and contributories have been held the Official Receiver, or the Chairman of the meeting, as the case may be, shall report the result of each meeting to the Court.

(2.) Upon the result of the meetings of creditors and con- tributories being reported to the Court, the Court may, if the meeting of creditors and the meeting of contributories have each passed the same resolutions, or if the resolutions passed at the two meetings are identical in effect, upon the application of the Official Receiver, forth with make the appointments necessary for giving effect to such resolutions. In any other case the Court shall, on the application of the Official Receiver, fix a time and place for considering the resolutions and determinations (if any) of the meetings, deciding differences (if any), and making such order as shall be necessary..

(3.) When a time and place have been fixed for the consideration of the resolutions and determinations of the meetings, such time and place shall be advertised by the Official Receiver in such manner as the Court shall direct, but so that the first or only advertisement shall be published not less than seven days before the time so fixed.

(4.) Upou the consideration of the resolutions and deter- minations of the meetings the Court shall hear the Official,, Receiver and any creditor or contributory.

(5.) If a Liquidator is appointed a copy of the order appointing him shall be transmitted by him to the Official Receiver and the Official Receiver shall, as soon as the Liquidator has given security, canse notice of the appoint- ment to be gazetted. The expense of gazetting the notice of the appointment shall be paid by the Liquidator, but may be charged by him on the assets of the Company.

(6.) Every appointment of a Liquidator or Committee of Inspection shall be advertised by the Liquidator in such manner as the Court directs immediately after the appoint- ment has been made, and the Liquidator has given the required security.

(7.) If a Liquidator in a winding-up by the Court shall die, or resign, or be removed, another Liquidator may be appointed in his place in the same manner as in the case of a first appointinent, and the Official Receiver shall, on the request of not less than one-tenth in value of the creditors or contributories summon meetings for the purpose of deter- mining whether or not the vacancy shall be filled; but none of the provisions of this Rule shall apply where the Liquidator is released under section 152 of the Ordinance in which case the Official Receiver shall remain Liquidator.

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