63770-1919-Supplementary-Bills-read-a-first-time--Non-Ferrous-Metal-Industry-Banking-Business-Prohibited-Control--Summary-Offences-Union-Insurance-Society-of-Canton-Limited-Capital-Conversion- — Page 8

Winding up.

8 & 9 Geo. 5, c. 31, s. 2 (2).

Inspection.

8 & 9 Geo. 5, c. 31, s. 2 (3).

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6.-(1.) Where it appears to the Governor in Council that any banking business is carried on in contraventión of this Ordinance he shall order the business to be wound up and such business shall forthwith be wound up accordingly.

(2.) It shall be lawful for the Governor in Council to make regulations prescribing:-

(a) The manner in which such winding up is to

be carried out;

(b) The persons by or under whom the winding up is to be carried out, and the powers, rights and duties to be assigned to such persons;

(e) The manner and order in which the proceeds of such winding up are to be distributed and applied;

(d) The powers to be conferred on the Supreme

Court in relation to such winding up;

(e) The powers to be conferred upon any other

authority in relation to such winding up; (f) The penalties to be imposed upon persons who fail to discharge the obligations imposed on them by such regulations; and

(g) Generally, the manner in which any ques- tions arising in such winding up are to be dealt with.

Any such regulations may confer a discretion on the person, Court, or authority on whom any power, right or duty is conferred, but otherwise such regulations shall be general and shall apply to all cases in which any winding up order is made under this section.

7.-1.) Where it appears to the Colonial Secretary that there is reasonable ground for suspecting that any banking business has been or is being carried on by any person, firm or corporation in contravention of the Ordinance, he may issue an order in writing authorising any person named in the order :

(a) To inspect all books and documents belong- ing to or under the control of such person, firm or corporation;

(b) To require any person whom he may con- sider able to give any information respect- ing the business or trade of such person, firm or corporation to give such information; (c) If accompanied by a police officer, or if himself a police officer, to search any pre- mises specified in the said information as having been or being used in connection with such business or trade;

(d) To seize and take possession of all books documents and things discovered in the course of any such inspection or search which may appear to furnish any evidence that any offence under this Ordinance has been committed;

(e) To do all such acts and things as may be reasonably necessary for the purpose of effecting such search.

(2.) Every person who refuses or neglects to produce any hooks or documents belonging to or under his con- trol or in his possession or physical custody, or to give any information within his knowledge, on demand, to any person or persons authorised by any such order in writing aforesaid to inspect such books or documents or to require such information, and every person who obstructs any inspection, search or seizure authorised by any such order in writing aforesaid, shall be liable on summary conviction to imprisonment for any term not exceeding six months and to a fine of five hundred dollars.