717125-1864-HONGKONG-ANNO-VICESIMO-OCTAVO-VICTORIE-REGINE-NO--OF-1864- — Page 21

THE HONGKONG GOVERNMENT GAZETTE, 8TH OCTOBER, 1864.

shall be prima facie evidence of the Liability of the Persons named therein to be Contributories:

(9.) The Liquidators may at any time after the passing of the Resolution for wind- ing-up the Company, and before they ascertained the sufficiency of the Assets of the Company, call on all or any of the Contributories for the time being settled on the List of Contributories to the extent of their Liability to pay all or any Sums they deem 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 the Liquidators may in making a Call take into Consideration the proba- bility that some of the Contributories upon whom the same is made may partly or wholly fail to pay their respective portions of the same:

(10.) The Liquidators shall pay the Debts of the Company, and adjust the Rights

of the Contributories amongst themselves.

387

of Company limited

CXXVII. Where a Company limited by guarantee, and having a Capital divided Effect of winding- into Shares, is being wound-up voluntarily, any Share Capital that may not have been up on Share Capital called up shall be deemed to be Assets of the Company, and to be a Specialty Debt by guarantee. due from each Member to the Company, 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 Li- quidators.

to delegate authority

CXXVIII. A Company about to be wound-up voluntarily, or in the course of Power of Company being wound-up voluntarily, may, by an Extraordinary Resolution, delegate to its to appoint Liquida- Creditors, or to any Committee of its Creditors, the Power of appointing Liquidators tors."

or any

of them, and supplying any Vacancies in the appointment of Liquidators, or may by a like Resolution enter into any arrangement with respect to the Powers to be exercised by the Liquidators, and the manner in which they are to be exercised; and any act done by the Creditors, in pursuance of such delegated Power, shall have the same effect as if it had been done by the Company.

binding on Creditors.

CXXIX. Any arrangement entered into between a Company about to be wound- Arrangement when up voluntarily, or in the course of being wound-up voluntarily, and its Creditors, shall be binding on the Company if sanctioned by an Extraordinary Resolution, and on the Creditors if acceded to by Three-fourths in Number and Value of the Creditors, subject to such right of Appeal as is hereinafter mentioned.

or Contributory

to

CXXX. Any Creditor or Contributory of a Company that has in manner afore- Power of Creditor said entered into any arrangement with its Creditors may, within Three Weeks from appeal." the Date of the completion of such Arrangement, appeal to the Court against such arrangement, and the Court may thereupon, as it thinks just, amend, vary, or confirm

the same.

tors or Contributories

CXXXI. Where a Company is being wound up voluntarily the Liquidators or any Power for Liquida- Contributory of the Company may apply to the Court to determine any Question arising in voluntary winding- in the matter of such winding-up, or to exercise, as respects the enforcing of Calls, or in up to apply to Court. respect of any other matter, all or any of the powers which the Court might exercise if the Company were being wound up by the Court; and the Court in the case aforesaid, if satisfied that the determination of such Question, or the required exercise of Power, will be just and beneficial, may accede, wholly or partially, to such Application, on such Terms and subject to such Conditions as the Court thinks fit, or it may make such other Order, or Decree on such Application as the Court thinks just.

•

tors to call General Meeting.

CXXXII. Where a Company is being wound up voluntarily the Liquidators may, Power of Liquida- from Time to Time, during the Continuance of such winding-up, summon General Meetings of the Company for the purpose of obtaining the sanction of the Company by Special Resolution or Extraordinary Resolution, or for any other Purposes they think fit; and in the event of the winding-up continuing for more than One Year, the Liquidators shall summon a General Meeting of the Company at the end of the First Year, and of each succeeding Year from the commencement of the winding-up, or as soon thereafter as may be convenient, and shall lay before such Meeting an Account showing their acts and dealings and the manner in which the winding-up has been conducted during the preceeding Year.

Vacancy in Liquida-

CXXXIII. If any Vacancy occurs in the Office of Liquidators appointed by the Power to Company, by Death, Resignation, or otherwise, the Company in General Meeting may, tors.