668857-1886-Bills-read-The-Companies-Ordinance-The-Statute-Law-Preservation-Ordinance- — Page 4

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THE HONGKONG GOVERNMENT GAZETTE, 27TH NOVEMBER, 1886.

11. From and after such reduction of capital the com- pany shall specify in the annual lists of members, to be made by them in pursuance of the twenty-fifth section of the Companies Ordinance, 1865, the amounts which any of the shareholders of the company shall have required the company to retain, and the company shall have retained accordingly, in pursuance of the 10th Section of this Ordi- nance and the company shall also specify in the statements of account laid before any General Meeting of the com- pany the amount of the undivided profits of the company which shall have been returned to the shareholders in re- duction of the paid up capital of the company under this Ordinance.

PART V.

Defunct Companies.

12. (1.) Where the Registrar of Companies has reason- able cause to believe that a company, whether registered before or after the passing of this Ordinance, is not carrying on business or in operation, he shall send to the company a letter inquiring whether the company is carrying on business or in operation.

(2.) If the Registrar does not within one month of sending the letter receive any answer thereto, he shall within fourteen days after the expiration of the month send to the company a second letter referring to the first letter, and stating that no answer thereto has been received by the Regis- trar, and that if an answer is not received to the second letter within one month from the date thereof, a notice will be published in the Gazette with a view to striking the name of the company off the register.

(3.) If the Registrar, either receives an answer from the company to the effect that it is not carrying on business or in operation, or does not within one month after sending the second letter receive any answer thereto, the Registrar may publish in the Gazette and send to the company a notice that at the expiration of three months from the date of that notice the name of the company mentioned therein will, unless cause is shown to the contrary, be struck off the register and the

will be dissolved. company

(4.) At the expiration of the time mentioned in the notice the Registrar may, unless cause to the contrary is previously shown by such company, strike the name of such company off the register, and shall publish notice thereof in the Gazette, and on the publication in the Gazette of such last mentioned notice the company whose name is so struck off shall be dissolved: Provided that the liability (if any) of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.

(5.) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pursuance of this section, the company or member may apply to the Supreme Court and the Court, if satisfied that the com- pany was at the time of the striking off carrying on business or in operation, and that it is just so to do, may order the name of the company to be restored to the register, and thereupon the company shall be deemed to have continued in existence as if the name thereof had never been struck off; and the Court may by the order give such directions and make such provisions as seem just for placing the company and all other per- sons in the same position as nearly as may be as if the name of the company had never been struck off.

(6.) A letter or notice authorised or required for the purposes of this section to be sent to a company may either be sent by post or may be delivered by hand addressed to the company at its regis- tered office, or, if no office has been registered, addressed to the care of some director or officer of the company, or if there be no director or

Company to specify amounts which shareholders have required them to retain under s. 10; also to specify amounts of profits returned to shareholders. [43 V. c. 19,

a. 6.j

Power of Registrar to strike names of defunct Companies of register. [43 V. c. 19, 8.7.3

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