718
As to disposal of books, accounts, and documents of the company.
Inspection of books.
Power of assignee to sue,
Debts of all descriptions to be proved.
General scheme of liquidation may be sanctioned.
ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
144. (143) Where any company has been wound up under this Ordinance and is about to be dissolved, the books, accounts, and documents of the company and of the liquidators may be disposed of in the following way; that is to say, where the company has been wound up by or subject to the supervision of the Court, in such way as the Court directs, and where the company has been wound up voluntarily, in such way as the company by an extraordinary resolution directs; but after the lapse of five years from the date of such dissolution, no responsibility shall rest on the company, or the liquidators, or any one to whom the custody of such books, accounts, and documents has been committed, by reason that the same, or any of them, cannot be made forthcoming to any party or parties claiming to be interested therein.
145. (144.) Where an order has been made for winding up a company by the Court, or subject to the supervision of the Court, the Court may make such order for the inspection by the creditors and contributories of the company of its books and papers as the Court thinks just, and any books and papers in the possession of the company may be inspected by creditors or contributories, in conformity with the order of the Court, but not further or otherwise.
*
up
146. (145.) Any person to whom any thing in action belonging to the company is assigned, in pursuance of this Ordinance, may bring or defend any action or suit relating to such thing in action in his own name.
147. (146.) In the event of any company being wound under this Ordinance, all debts payable on a contingency, and all claims against the company, present or future, certain or contingent, ascertained or sounding only in damages, shall be admissible to proof against the company, a just estimate being made, so far as is possible, of the value of all such debts or claims as may be subject to any contingency or sound only in damages, or for some other reason do not bear a certain value.
148. (147.) The liquidators may, with the sanction of the Court, where the company is being wound up by the Court or subject to the supervision of the Court, and with the sanction of an extraordinary resolution of the company where the company is being wound up altogether voluntarily, pay any classes of creditors in full, or make such compromise, or other arrangement as the liquidators may deem expedient with creditors or persons claiming to be creditors, or persons having or alleging themselves to have any claim, present or future, certain or contingent, ascer-
Page 40
Page 41
718
As to disposal of books, accounts, and documents of the company.
Inspection of 1ooks.
Power of assignee to
Bue,
Debts of all descriptions to be proved.
General scheme of liquidation may be sanctioned.
ORDINANCE No. 1 OF 1865.
Companies, &c. (Part IV. Winding-up.)
144. (143) Where any company has been wound up under this Ordinance and is about to be dissolved, the books, accounts, and docu- ments of the company and of the liquidators may be disposed of in the following way; that is to say, where the company has been wound up by or subject to the supervision of the Court, in such way as the Court directs, and where the company has been wound up voluntarily, in such way as the company by an extraordinary resolution directs; but after the lapse of five years from the date of such dissolution, no responsibility shall rest on the company, or the liquidators, or any one to whom the custody of such books, accounts, and documents has been committed, by reason that the same, or any of them, cannot be made forthcoming to any party or parties claiming to be interested therein.
145. (144.) Where an order has been made for winding up a com- pany by the Court, or subject to the supervision of the Court, the Court may make such order for the inspection by the creditors and contributories of the company of its books and papers as the Court thinks just, and any books and papers in the possession of the company may be inspected by creditors or contributories, in conformity with the order of the Court, but not further or otherwise.
*
up
146. (145.) Any person to whom any thing in action belonging to the company is assigned, in pursuance of this Ordinance, may bring or defend
any action or suit relating to such thing in action in his own name. 147. (146.) In the event of any company being wound under this Ordinance, all debts payable on a contingency, and all claims against the company, present or future, certain or contingent, ascertained or sounding only in damages, shall be admissible to proof against the com- pany, a just estimate being made, so far as is possible, of the value of all such debts or claims as may be subject to any contingency or sound only in damages, or for some other reason do not bear a certain value.
148. (147.) The liquidators may, with the sanction of the Court, where the company is being wound up by the Court or subject to the supervision of the Court, and with the sanction of an extraordinary re- solution of the company where the company is being wound up altogether voluntarily, pay any classes of creditors in full, or make such compromise. or other arrangement as the liquidators may deem expedient with creditors or persons claiming to be creditors, or persons having or alleging them- selves to have any claim, present or future, certain or contingent, ascer-
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