48624-1916-Supplementary-Alien-Enemies-Winding-up-Amendment-Bill — Page 2

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(f) Power to appoint a liquidator of the affairs of any association of persons or organisation which is or at any time since the outbreak of war has been composed in whole or part of alien ene- mies or which at any time since the outbreak of war has been in whole or part represented in the Colony by an alien enemy.

(2.) Every such liquidator shall have as full rights and powers as any other liquidator appointed under the priu- cipal Ordinance.

6.-(1.) Every liquidator appointed under the principal Transfer of Ordinance to wind up the affairs or estate of any person shall property. for all purposes whatsoever be deemed to have power, and at all times to have had power, while acting as such liquidator, to transfer all the property of whatever description within the Colony of such person, or vested in such person, or belonging to such estate, in all respects as fully as if the transfer had been duly made or executed by or on behalf of such person, or by or on behalf of his legal personal representative, as the case may be, and any such transfer by such liquidator shall be decined to pass all the legal estate in such property which may be or was vested in such persou, or in his legal personal representative, at the date of such transfer.

(2.) Nothing in this section shall be construed as limiting in any way whatsoever any powers which any liquidator appointed under the principal Ordinance would have possessed if this section had not been enacted.

7. The rights and powers of a liquidator under the Rights and Alien Enemies (Winding up) Ordinances, 1914 to 1916, powers to shall pass, and shall be deemed always to have passed, pass from from liquidator to liquidator, so as to be exercisable by the liquidator to

liquidator. liquidator for the time being during his continuance in office.

not accrue

8.-(1.) In every winding up under the Alien Enemies Distribution (Winding up) Ordinances, 1914 to 1916, it shall be lawful on the for the liquidator to distribute the assets in the first in- footing that stance on the footing that no interest has accrued or shall interest does accrue on any debt after the first appointment of a liquida- after the tor of the trade or personal affairs of the person whose commence- assets are about to be or are being distribute: : Provided ment of the that nothing in this section shall affect the rights of

winding up. any secured creditor in respect of any security held by him.

(2.) Any surplus assets remaining after such distribu- tion may

be applied rateably in the payment of claims for interest.

9. In every winding up under the Alien Enemies Priority over (Winding up) Ordinances, 1914 to 1916, the assets shall, debts due to so far as they are available for discharging unsecured debts, enemies:

5 & 6 Geo. be applied in discharging such debts due to creditors who 5, c. 105, are not enemies in priority to the unsecured debts due to s. 18). creditors who are enemies : Provided that nothing in this section shall be construed as authorising any payment being made to a creditor who is an enemy.

10.-(1.) Every liquidator appointed under the princi- Disclaimer. pal Ordinance to wind up the trade or personal affairs of any person may, by writing signed by him, with the per- mission of the Governor, disclaim any lease or contract under which such person is subject to any liability.

(2.) Notwithstanding anything containing in section 10 of the principal Ordinance, such disclaimer shall operate to de- termine, as from the date on which the disclaimer is signed, the rights interests and liabilities of such person uuder the lease or contract disclaimed, but shall not, except so far as is necessary for the said purpose, affect the rights or liabi- lities of any other person.

(3.) Notice of such disclaimer shall, so far as is practi- cable, be given to every party to the lease or contract disclaimed other than the person whose affairs are being wound up:

Provided that no such disclaimer shall be void

or otherwise affected on the ground only that any notice required by this sub-section shall not have been given.