ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
and shall be deemed to have been duly held if held in manner prescribed by the regulations of the company, or in such other manner as may, on application by the continuing liquidator, if any, or by any contributory of the company, be determined by the Court.
715
Court to appoint liquidators.
130. (129.) If from any cause whatever there is no liquidator acting in the case of a voluntary winding-up, the Court may, on the application of a contributory, appoint a liquidator or liquidators: The Court may also, on due cause shown, remove any liquidator, and appoint another liquidator to act in the matter of a voluntary winding-up.
131. (130.) As soon as the affairs of the company are fully wound up, the liquidators shall make up an account showing the manner in which such winding-up has been conducted, and the property of the company disposed of; and thereupon they shall call a general meeting of the company for the purpose of having the account laid before them and hearing any explanation that may be given by the liquidators: The meeting shall be called by advertisement specifying the time, place, and object of such meeting; and such advertisement shall be published one month at least previously to the meeting in the Hongkong Government Gazette.
Liquidators on conclusion of winding-up to make up an account.
to report meeting to Registrar.
132. (131.) The liquidators shall make a return to the Registrar of such meeting having been held, and of the date at which the same was held, and on the expiration of three months from the date of the registration of such return the company shall be deemed to be dissolved: If the liquidators make default in making such return to the Registrar they shall incur a penalty not exceeding fifty dollars for every day during which such default continues.
133. (132.) All costs, charges, and expenses properly incurred in the voluntary winding-up of a company, including the remuneration of the liquidators, shall be payable out of the assets of the company in priority to all other claims.
Costs of voluntary liquidation.
rights of creditors.
134. (133.) The voluntary winding-up of a company shall not be a bar to the right of any creditor of such company to have the same wound up by the Court, if the Court is of opinion that the rights of such creditor will be prejudiced by a voluntary winding-up.
Court to adopt proceedings of voluntary
135. (134.) Where a company is in course of being wound up voluntarily, and proceedings are taken for the purpose of having the same wound up by the Court, the Court may, if it thinks fit, notwithstanding that it makes an order directing the company to be wound up by the Court,
ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
and shall be deemed to have been duly held if held in manner prescribed by the regulations of the company, or in such other manner as may, on application by the continuing liquidator, if any, or by any contributory of the company, be determined by the Court.
715
Court to appoint liqui- dators.
130. (129.) If from any cause whatever there is no liquidator Power of acting in the case of a voluntary winding-up, the Court may, on the application of a contributory, appoint a liquidator or liquidators: The Court may also, on due cause shown, remove any liquidator, and appoint another liquidator to act in the matter of a voluntary winding-up.
131. (130.) As soon as the affairs of the company are fully wound up, the liquidators shall make up an account showing the manner in which such winding-up has been conducted, and the property of the company disposed of; and thereupon they shall call a general meeting of the company for the purpose of having the account laid before them and hearing any explanation that may be given by the liquidators: The meeting shall be called by advertisement specifying the time, place, and object of such meeting; and such advertisement shall be published one month at least previously to the meeting in the Hongkong Government Gazette.
Liquidators on conclusion of winding-up to make up an account.
to report meeting to Registrar.
132. (131.) The liquidators shall make a return to the Registrar Liquidators of such meeting having been held, and of the date at which the same was held, and on the expiration of three months from the date of the registration of such return the company shall be deemed to be dissolved: If the liquidators make default in making such return to the Registrar they shall incur a penalty not exceeding fifty dollars for every day during which such default continues.
133. (132.) All costs, charges, and expenses properly incurred in the voluntary winding-up of a company, including the remuneration of the liquidators, shall be payable out of the assets of the company in priority to all other claims.
Costs of voluntary liquidation.
rights of creditors.
134. (133.) The voluntary winding-up of a company shall not be Saving of a bar to the right of any creditor of such company to have the same wound up by the Court, if the Court is of opinion that the rights of such. creditor will be prejudiced by a voluntary winding-up.
Court to adopt proceedings of voluntary
135. (134.) Where a company is in course of being wound up Power of voluntarily, and proceedings are taken for the purpose of having the same wound up by the Court, the Court may, if it thinks fit, notwithstanding winding-up. that it makes an order directing the company to be wound up by the
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