714698-1865-HONGKONG-ANNO-VICESIMO-OCTAVO-VICTORIE-REGINE-NO-1-OF-1865- — Page 17

of any

THE HONGKONG GOVERNMENT GAZETTE, 18TH MARCH, 1865.

119

Debts by Contribu-

XCIX. The Court may, at any time after making an Order for winding-up the Power of Court to Company, make an Order on any Contributory for the time being settled on the List of der Payment of

ntributories, directing Payment to be made, in manner in the said Order mentioned, tory. Monies due from him or from the Estate of the Person whom he represents to the Company, exclusive of any Monics which he or the Estate of the Person whom he represents may be liable to contribute by virtue of any Call made or to be made by the Court in pursuance of this Part of this Ordinance; and it may, in making such Order, when the Company is not limited, allow to such Contributory by way of Set-off any Monics due to him or the Estate which he represents from the Company on any inde- pendent Dealing or Contract with the Company, but not any Monies due to him as a Member of the Company in respect of any Dividend or Profit: Provided that when all the Creditors of any Company whether limited or unlimited are paid in full, any Monies due on any Account whatever to any Contributory from the Company may be allowed to him by way of Set-off against any subsequent Call or Calls.

C. The Court may, at any time after making an Order for winding-up a Com- Power of Court to pany, and either before or after it has ascertained the Sufficiency of the Assets of the make Calls. Company, make Calls on and order l'ayment thereof by all or any of the Contributories- for the time being settled on the List of Contributories, to the Extent of their Liability, for Payment of all or any Sums it deems necessary to satisfy the Debts and Liabilities of the Company, and the Costs, Charges, and Expenses of winding it up, and for the Adjustment of the Rights of the Contributories amongst themselves, and it may, in making a Call, take into consideration the Probability that some of the Contributories upon whom the same is made may partly or wholly fail to pay their respective l'ortions of the same.

Bank.

CI. The Court may order any Contributory, Purchaser, or other Person from Power of Court to whom Money is due to the Company to pay the same into some Banking Establishment order Payment into in this Colony to be named by the Court or to the Account of the Official Liquidator instead of to the Official Liquidator, and such Order may be enforced in the same Manner as if it had directed Payment to the Official Liquidator.

count with. Court.

CII. All Monies, Bills, Notes, and other Securities paid and delivered into such Regulation of Ac- Bank so to be named as aforesaid in the event of a Company being wound up by the Court, shall be subject to such Order and Regulation for the keeping of the Account of such Monies and other Effects, and for the Payment and Delivery in, or Investment and Payment and Delivery out of the same as the Court may direct.

CIII. If any Person made a Contributory as Personal Representative of a deceased Provision in case of Contributory makes default in paying any Sum ordered to be paid by him, Proceedings Representative of a may be taken for administering the Personal and Real Estates of such deceased Con- ing Monics ordered. tributory, or either of such Estates, and of compelling Payment thereout of the Monies

due.

CIV. Any Order made by the Court in pursuance of this Ordinance upon any Contributory shall be conclusive Evidence that the Monies, if any, thereby appearing to be due or ordered to be paid are due, and all other pertinent Matters stated in such Order are to be taken to be truly stated as against all Persons, and in all Proceedings whatsoever, with the exception of Proceedings taken against the Real Estate of any deceased Contributory, in which case such Örder shall only be primâ facie Evidence for the purpose of charging his Real Estate, unless his Heirs or Devisees were on the List of Contributories at the time of the Order being made.

CV. The Court may fix a certain Day or certain Days on or within which Creditors of the Company are to prove their Debts or Claims, or to be excluded from the Benefit of any Distribution made before such Debts are proved.

Order conclusive Evidence.

Court may exclude Creditors not proving

within certain time.

to

adjust Rights of Contribu- tories.

CVI. The Court shall adjust the Rights of the Contributories amongst themselves Court and distribute any Surplus that may remain amongst the Parties entitled thereto.

CVII. The Court may, in the event of the Assets being insufficient to satisfy the Court to order Costs. Liabilities, make an Order as to the Payment out of the Estate of the Company of the Costs, Charges, and Expenses incurred in winding-up any Company in such Order of Priority as the Court thinks just.

CVIII. When the Affairs of the Company have been completely wound-up, the Dissolution of Com- Court shall make an Order that the Company be dissolved from the Date of such Order, pany. and the Company shall be dissolved accordingly.