690613-1877-Companies-Amendment-Ordinance- — Page 7

THE HONGKONG GOVERNMENT GAZETTE, 23RD JUNE, 1877.

names of any

XXXVII. Every prospectus of a company, and every notice Prospectus, inviting persons to subcribe for shares in any joint stock &e; to specify company, shall specify the dates and the names of the parties to dates and any contract entered into by the company, or the promoters, parties to any directors, or trustees thereof, before the issue of such prospectus or contract made notice, whether subject to adoption by the directors or the prior to issue of company, or otherwise; and any prospectus or notice not specify- such pros- ing the same shall be deemed fraudulent on the part of the Pets. promoters, directors and officers of the company knowingly

[sec. 38]. issuing the same, as regards any person taking shares in the company on the faith of such prospectus, unless he shall have had notice of such contract.

Meetings.

months after

company shall. registration.

XXXVIII. Every company formed under the principal Ordinance Company to after the commencement of this Ordinance, shall hold a general hold meeting meeting within four months after its memorandum of association within four is registered; and if such meeting is not held-the be liable to a penalty not exceeding twenty-five dollars a day for [see, 39]. every day after the expiration of such four months until the meet- ing is held; and every director or manager of the company, and every subscriber of the memorandum of association, who know- ingly authorizes or permits such default, shall be liable to the same penalty.

Winding-up."

XXXIX. Whenever any compromise or arrangement is pro- To facilitate posed between a company, which is in course of being wound-up, compromises and its creditors or any class of its creditors, the court upon the in winding-up. application in a summary way of any creditor, or of the liquida- 104].

[33 & 34 Vic. tor, may, in addition to its other powers, order that a meeting of such creditors or class of creditors be summoned in such manner as the court directs, and if at such meeting a majority in number, present in person or by proxy, and representing three-fourths in value of such creditors or class of creditcs, agree to any compro- mise or arrangement, such compromise or arrangement, if sanc- tioned by an order of the court, shall be binding on all such cre- ditors or class of creditors, and on the liquidator and contributo- ries of the company.

present

XL. No contributory of a company under the principal Contributory Ordinance shall be capable of presenting a petition for winding- when not up such company unless the members of the company are reduced qualified to in number to less than seven, or unless the shares in respect of winding-up which he is a contributory, or some of them, either were origi- petition. nally allotted to him-or have been held by him, and registered [30 & 31 Vie, in his name, for a period of at least six months during the eighteen c. 131 s. 40). months previously to the commencement of the winding-up, or have devolved upon him through the death of a former holder:

Provided that where a share has, during the whole or any part of the six months-been held by or registered in the name of the wife of a contributory either before or after her marriage, or by or in the name of any trustee or trustees for such wife or for the contributory, such share shall-for the purposes of this section, be deemed to have been held by and registered in the name of the contributory.

XLI. Nothing in this Ordinance contained shall epower Not to em- any company to alter any provision contained in any Ordinance power compa relating to the company; or, without the sanction of the Governor, nies to alter to alter any provision contained in any Letters Patent relating to the company.

Passed the Legislative Council of Hongkong, this 21st day of June, 1872.

provisions of any Ordinance or Letters Patent. [sec. 47].

H. E. WODEHOUSE, Clerk of Councils.

313

GOVERNMENT NOTIFICATION.

At a Meeting of the Legislative Council held this afternoon, the following Bill was read a first time.

By Command.

Council Chamber, Hongkong, 21st June, 1877.

H. E. WODEHOUST

Clerk of Coune