1448
Copy of registered minute. [sec. 18.]
Penalty on concealment of name of creditor. [sec. 19.]
Power to make rules extended to making rules concerning matters in this Ordinance. [sec. 20.]
Shares may be divided into shares of smaller amount. [sec. 21.]
ORDINANCE No. 1 OF 1877.
Companies.
the registration of the order and minute relating to the reduction of the capital of the company, shall be liable to contribute for the payment of such debt or claim an amount not exceeding the amount which he would have been liable to contribute if the company had commenced to be wound-up on the day prior to such registration, and on the company being wound-up, the Court, on the application of such creditor, and on proof that he was ignorant of the proceedings taken with a view to the reduction, or of their nature and effect with respect to his claim, may, if it think fit, settle a list of such contributories accordingly, and make and enforce calls and orders on the contributories settled on such list in the same manner in all respects as if they were ordinary contributories in a winding-up; but the provisions of this section shall not affect the rights of the contributories of the company among themselves.
17. A minute—when registered—shall be embodied in every copy of the memorandum of association issued after its registration; and if any company makes default in complying with the provisions of this section—it shall incur a penalty not exceeding five dollars for each copy in respect of which such default is made, and every director and manager of the company who shall knowingly and wilfully authorize or permit such default shall incur the like penalty.
18. If any director, manager, or officer of the company wilfully conceals the name of any creditor of the company who is entitled to object to the proposed reduction or wilfully misrepresents the nature or amount of the debt or claim of any creditor of the company, or if any director or manager of the company aids or abets in or is privy to any such concealment or misrepresentation as aforesaid, every such director, manager, or officer shall be guilty of a misdemeanour.
19. The powers of making rules concerning winding-up conferred by the one hundred and fifty-eighth section of the principal Ordinance, shall extend to making rules concerning matters under this Ordinance, and until such rules are made the practice of the Court in matters of the same nature, shall, so far as the same is applicable, be followed.
Subdivision of shares.
20. Any company limited by shares may—by special resolution—so far modify the conditions contained in its memorandum of association, if authorized so to do by its regulations as originally framed or as altered by special resolution, as by subdivision of its existing shares or any of
1448
Copy of registered minute. [soc. 18.1
Penalty on concealment of name of creditor. [sec. 19.]
Power to make rules extended to making rules concerning matters in this Ordi-
nance.
[sec. 20.]
Shares may
be divided
into shares of smaller amount.
[sec. 21.]
ORDINANCE No. 1 OF 1877.
Companies.
the registration of the order and minute relating to the reduction of the capital of the company, shall be liable to contribute for the payment of such debt or claim an amount not exceeding the amount which he would have been liable to contribute if the company had commenced to be wound-up on the day prior to such registration, and on the company being wound-up, the Court, on the application of such creditor, and on proof that he was ignorant of the proceedings taken with a view to the reduction, or of their nature and effect with respect to his claim, may, if it think fit, settle a list of such contributories accordingly, and make and enforce calls and orders on the contributories settled on such list in the same manner in all respects as if they were ordinary contributories in a winding-up; but the provisions of this section shall not affect the rights of the contributories of the company among themselves.
17. A minute--when registered-shall be embodied in every copy of the memorandum of association issued after its registration; and if any company makes default in complying with the provisions of this section-it shall incur a penalty not exceeding five dollars for each copy in respect of which such default is made, and every director and manager of the company who shall knowingly and wilfully authorize or permit such default shall incur the like penalty.
18. If any director, manager, or officer of the company wilfully conceals the name of any creditor of the company who is entitled to object to the proposed reduction or wilfully misrepresents the nature or amount of the debt or claim of any creditor of the company, or if any director or manager of the company aids or abets in or is privy to any such concealment or misrepresentation as aforesaid, every such director, manager, or officer shall be guilty of a misdemeanour.
19. The powers of inaking rules concerning winding-up conferred by the one hundred and fifty-eighth section of the principal Ordinance, shall extend to making rules concerning matters under this Ordinance, and until such rules are made the practice of the Court in matters of the same nature, shall, so far as the same is applicable, be followed.
Subdivision of shares.
20. Any company limited by shares may-by special resolution- so far modify the conditions contained in its memorandum of association, if authorized so to do by its regulations as originally framed or as altered by special resolution, as by subdivision of its existing shares or any of
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