717125-1864-HONGKONG-ANNO-VICESIMO-OCTAVO-VICTORIE-REGINE-NO--OF-1864- — Page 15

THE HONGKONG GOVERNMENT GAZETTE, 8TH OCTOBER, 1864.

381

Course to be pur-

sued by Court

LXXXV. Upon hearing the Petition the Court may dismiss the same with or without Costs, may adjourn the hearing conditionally or unconditionally, and may make hearing Petition. any interim Order, or any other Order that it deems just.

од

to be stayed after Or-

LXXXVI. When an Order has been made for winding up a Company under this Actions and Suits Ordinance no Suit, Action, or other Proceeding shall be proceeded with or commenced der for winding-up. against the Company except with the leave of the Court, and subject to such Terms as

the Court may impose.

forwarded to Regis-

LXXXVII. When an Order has been made for winding-up a Company under this Copy of Order to be Ordinance the Registrar of Joint Stock Companies, shall make a Minute thereof in his war. Books relating to the Company.

stay Proceedings.

LXXXVIII. The Court may at any Time after an Order has been made for winding-power of Court to up a Company, upon the Application by motion of any Creditor or Contributory of the Company, and upon Proof to the satisfaction of the Court that all Proceedings in relation to such winding-up ought to be stayed, make an Order staying the same; either altogether or for a limited Time, on such Terms and subject to such Conditions as it deems fit.

LXXXIX. When an Order has been made for winding-up a Company limited by Effect of Order on Guarantee and having a Capital divided into Shares, any Share Capital that may not have been called up shall be deemed to be Assets of the Company, and to be a Debt of the nature of a specialty due to the Company from each Member to the extent of any Sums that may be unpaid on any Shares held by him, and payable at such Time as may be appointed by the Court.

Share Capital of Com- pany limited by Gua-

rantee.

Court inay

have

regard to wishes of

butories.

XC. The Court may as to all matters relating to the winding-up, have regard to the wishes of the Creditors or Contributories, as proved to it by any sufficient Evidence, Creditors or Contri- and may, if it thinks it Expedient, direct meetings of the Creditors or Contributories to be summoned, held, and conducted in such manner as the Court directs, for the purpose of ascertaining their wishes, and may appoint a Person to net as Chairman of any such Meeting, and to report the result of such Meeting to the Court: in the case of Creditors, regard is to be had to the value of the Debts due to each Creditor, and in the case of Contributories to the number of Votes conferred on each Contributory by the Regulation of the Company.

Official Liquidators.

cial Liquidator.

XCI. For the purpose of conducting the Proceedings in winding-up a Company, Appointment of Offi- and assisting the Court therein, there may be appointed a Person or Persons to be called an Official Liquidator or Official Liquidators; and the Court may appoint such Person or Persons, either provisionally or otherwise as it thinks fit, to the Office of Official Liquidator or Official Liquidators; in all cases if more Persons than One are appointed to the Office of Official Liquidator, the Court shall declare whether any Act hereby required or authorized to be done by the Official Liquidator is to be done by all or any One or more of such Persons. The Court may also determine whe ther any and what security is to be given by any Official Liquidator on his Appoint- ment; if no Official Liquidator is appointed, or during any Vacancy in such Appoinment, all the Property of the Company shall be deemed to be in the Custody of the Court.

Resignations, re-

Vacancies, and Com-

XCII. Any Official Liquidator may resign or be removed by the Court on due cause shown: and any Vacancy in the Office of an Official Liquidator appointed by the Court ovals, filling up shall be filled by the Court: there shall be paid to the Official Liquidator such Salary pensation. or Remuneration, by way of per-centage or otherwise, as the Court may direct; and if more Liquidators than One are appointed such Remuneration shall be distributed amongst them in such Proportions as the Court directs.

XCIII. The Official Liquidator or Liquidators shall be described by the style of Style and duties of the Official Liquidator or Official Liquidators of the particular Company in respect of Official Liquidator. which he is or they are appointed, and not by his or their individual Name or Names; he or they shall take into his or their Custody, or under his or their Control, all the Property, Effects, and Things in Actions to which the Company is or appears to be entitled, and shall perform such Duties in reference to the winding-up of the Company as may be imposed by the Court.

XCIV. The Official Liquidator shall have power, with the sanction of the Court, to do the following things:

To bring or defend any Action, Suit, or Prosecution, or other Legal Proceeding,

Civil or Criminal, in the Name and on behalf of the Company;

Powers of Official Liquidator.