36086-1914-Bill-to-be-read-a-first-time--Alien-Enemies-Winding-up-Amendment- — Page 3

THE HONGKONG GOVERNMENT GAZETTE, NOVEMBER 2, 1914.

(14.) The accounts of every such liquidator with respect to any such winding up shall be audited in such manner as the Governor may direct, (15.) Every person who shall, without lawful excuse, refuse to hand over to a liquidator on demand any keys, safe, office furniture, account books, cheque books, or other things of any nature whatsoever, of which he may be in possession, and which may have been used in connection with or which may relate to the trade or personal affairs of the alien enemy whose trade or personal affairs respectively such liquidator has been appointed to wind up, and every person who shall, without lawful excuse, in any way obstruct any liquidator in taking possession of any premises occupied by or on behalf of such alien enemy immediately before the appointment of such liquidator, shall be deemed to commit an offence against this Ordinance.

(16.) Subject to the provisions of this Ordinance every such liquidator shall conform with any directions which may be given to him by the Governor."

5. Section 10 of the Principal Ordinance is amended by the substitution of the word "affect" for the word "effect" in the second line thereof.

Amendment of Ordinance No. 28 of 1914, s. 10.

Objects and Reasons,

The main object of this Bill is to provide for the pay- ment of the liquidators' expenses and remuneration in casc the nett assets after deducting the value of the securities held by secured creditors shall be insufficient to satisfy such expenses and remuneration. Under the Bill these expenses and remuneration take priority over every other liability, as they are absolutely necessary in the interest of all per- sons concerned.

Provision is made for the auditing of liquidators' accounts.

It is declared to be an offence against the Ordinance to refuse to hand over keys, account books, etc., to the liqui- dator, or to obstruct him in taking possession of the alien enemy's premises.

It is also expressly prohibited to pay any money or part with any property whatsoever, without the permission of the Governor, to or for the benefit of any alien enemy, whether such alien enemy be within or without the Colony.

J. H. KEMP,

Attorney General.

Printed and Published by NORONHA & Co., Printers to the Hongkong Government.

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