ORDINANCE No. 1 of 1877.
Companies.
upon the validity of such debt or claim, and the amount for which the company may be liable in respect thereof, in the same manner as if the company were being wound up by the Court, and the amount fixed by the Court on such inquiry and adjudication shall be set apart and appropriated.
1447
Order and minute to be registered.
[sec. 15.]
14. The Registrar of Companies, upon the production to him of an order of the Court confirming the reduction of the capital of a company, and the delivery to him of a copy of the order and of a minute (approved by the Court), showing with respect to the capital of the company, as altered by the order, the amount of such capital, the number of shares into which it is to be divided, and the amount of each share, shall register the order and minute, and on the registration the special resolution confirmed by the order so registered shall take effect.
A notice of such registration shall be published in such manner as the Court may direct.
The Registrar shall certify under his hand the registration of the order and minute, and his certificate shall be conclusive evidence that all the requisitions of this Ordinance with respect to the reduction of capital have been complied with, and that the capital of the company is such as is stated in the minute.
15. The minute, when registered, shall be deemed to be substituted for the corresponding part of the memorandum of association of the company, and shall be of the same validity, and subject to the same alterations as if it had been originally contained in the memorandum of association; and, subject as in this Ordinance mentioned, no member of the company, whether past or present, shall be liable in respect of a share to any call or contribution exceeding in amount the difference (if any) between the amount which has been paid on such share and the amount of the share as fixed by the minute.
16. If any creditor who is entitled in respect of any debt or claim to object to the reduction of the capital of a company under this Ordinance is, in consequence of his ignorance of the proceedings taken with a view to such reduction, or of their nature and effect with respect to his claim, not entered on the list of creditors, and after such reduction the company is unable, within the meaning of the seventy-eighth section of the principal Ordinance, to pay to the creditor the amount of such debt or claim, every person who was a member of the company at the date of the reduction...
Minute to form part of memorandum of association. [sec. 16.]
Saving of rights of creditors who are ignorant of proceedings. [sec. 17.]
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ORDINANCE No. 1 of 1877.
Companies.
upon the validity of such debt or claim, and the amount for which the company may be liable in respect thereof, in the same manner as if the company were being wound up by the Court, and the amount fixed by the Court on such inquiry and adjudication shall be set apart and appropriated.
1447
Order and minute to be
[sec. 15.]
14. The Registrar of Companies, upon the production to him of an order of the Court confirming the reduction of the capital of a company, registeret. and the delivery to him of a copy of the order and of a minute (approved by the Court), showing with respect to the capital of the company, as altered by the order, the amount of such capital, the number of shares in which it is to be divided, and the amount of each share, shall register the order and minute, and on the registration the special resolution confirmed by the order so registered shall take effect.
A
Notice of such registration shall be published in such manner as the Court may direct.
The Registrar shall certify under his hand the registration of the order and minute, and his certificate shall be conclusive evidence that all the requisitions of this Ordinance with respect to the reduction of capital have been complied with, and that the capital of the company is such as is stated in the minute.
15. The minute-when registered-shall be deemed to be substituted for the corresponding part of the memorandum of association of the company, and shall be of the same validity, and subject to the same alterations-as if it had been originally contained in the memorandum of association and, subject-as in this Ordinance mentioned, no member of the company, whether past or present, shall be liable in respect of a share to any call or contribution exceeding in amount the difference (if any) between the amount which has been paid on such share and the amount of the share as fixed by the minute..
any
16. If any creditor who is entitled in respect of any debt or claim to object to the reduction of the capital of a company under this Ordi- nance is, in consequence of his ignorance of the proceedings taken with a view to such reduction, or of their nature and effect with respect to his
to suc not entered on the list of creditors, and after such reduction the company is unable, within the meaning of the seventy-eighth section of the principal Ordinance, to pay to the creditor the amount of such debt or claim, every person who was a member of the company at the date of
claim
Minute to form part of memorandum of association. [sec. 16.]
Saving of rights of creditors who are ignorant of proceed ings. [sec. 17.]
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