26
THE HONGKONG GOVERNMENT GAZETTE, 15TH JANUARY, 1887.
Company to specify amounts which shareholders have required them to retain under s. 10; also to specify amounts of profits returned to shareholders.
[43 V. c. 19, s. 6.]
Power of Registrar to strike names of defunct Companies off register.
[43 V. c. 19, s. 7.]
in respect of which the said moneys shall be so retained shall, in regard to the payment of dividends thereon, be deemed to be paid up to the same extent only as the shares on which payment as aforesaid has been accepted by the shareholders in reduction of their paid-up capital, and the company shall invest and keep invested the moneys so retained in such securities as may be authorised by the Supreme Court, and upon the money so invested, or upon so much thereof as from time to time exceeds the amount of calls subsequently made upon the shares in respect of which such moneys shall have been retained, the company shall pay such interest as shall be received by them from time to time on such securities, and the amount so retained and invested shall be held to represent the future calls which may be made to replace the capital so reduced on those shares, whether the amount obtained on sale of the whole or such proportion thereof as represents the amount of any call when made, produces more or less than the amount of such call.
10. From and after such reduction of capital, the company shall specify in the annual lists of members, to be made by them in pursuance of the twenty-fifth section of The Companies Ordinance, 1865, the amounts which any of the shareholders of the company shall have required the company to retain, and the company shall have retained accordingly, in pursuance of the 9th Section of this Ordinance; and the company shall also specify in the statements of account laid before any General Meeting of the company the amount of the undivided profits of the company, which shall have been returned to the shareholders in reduction of the paid-up capital of the company under this Ordinance.
PART V.
Defunct Companies.
11. (1.) Where the Registrar of Companies has reasonable cause to believe that a company, whether registered before or after the passing of this Ordinance, is not carrying on business or in operation, he shall send to the company a letter inquiring whether the company is carrying on business or in operation.
(2.) If the Registrar does not within one month of sending the letter receive any answer thereto, he shall within fourteen days after the expiration of the month send to the company a second letter referring to the first letter, and stating that no answer thereto has been received by the Registrar, and that if an answer is not received to the second letter within one month from the date thereof, a notice will be published in the Gazette with a view to striking the name of the company off the register.
(3.) If the Registrar either receives an answer from the company to the effect that it is not carrying on business or in operation, or does not within one month after sending the second letter receive any answer thereto, the Registrar may publish in the Gazette and send to the company a notice that at the expiration of three months from the date of that notice the name of the company mentioned therein will, unless cause is shown to the contrary, be struck off the register and the company will be dissolved.
(4.) At the expiration of the time mentioned in the notice, the Registrar may, unless cause to the contrary is previously shown by such company, strike the name of such company off the register, and shall publish notice thereof in the Gazette, and on the publication in the Gazette of such last-mentioned notice, the company whose name is so struck off shall be dissolved: Provided that the liability (if any) of every director, managing officer, and member of the company shall continue and may be enforced as if the company had not been dissolved.
(5.) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pursuance of this section, the company or member may apply to the Supreme Court; and the Court, if satisfied that the company was at the time of the striking off carrying on business or in operation, and that it is just...
26
THE HONGKONG GOVERNMENT GAZETTE, 15тH JANUARY; 1887.
Company to specity amounts which shareholders have required them to retain under s. 10; also to specify amounts of profits returned to shareholders.
[43 V. c. 19, *. 6.]
Power of Registrar to strike names of defunct Companies off register.
[4 V. c. 19, i. 7.1
in respect of which the said moneys shall be so retained shall, in regard to the payment of dividends thereon, be deemed to be paid up to the same extent only as the shares on which payment as aforesaid has been accepted by the shareholders in reduction of their paid up capital, and the company shall invest and keep invested the moneys so retained in such securities, as may be authorised by the Supreme Court, and upon the money so invested, or upon so much thereof as from time to time exceeds the amount of calls subsequently made upon the shares in respect of which such moneys shall have been retained, the com- pany shall pay such interest as shall be received by them from time to time on such securities, and the amount so retained and invested shall be held to represent the future calls which may be made to replace the capital so reduced on those shares, whether the amount obtained on sale of the whole or such proportion thereof as represents the amount of any call when made, produces more or less than the amount of such call.
10. From and after such reduction of capital the com- pany shall specify in the annual lists of members, to be made by them in pursuance of the twenty-fifth section of The Companies Ordinance, 1865, the amounts which any of the shareholders of the company shall have required the company to retain, and the company shall have retained accordingly, in pursuance of the 9th Section of this Ordi- nance and the company shall also specify in the statements of account laid before any General Meeting of the com- pany the amount of the undivided profits of the company. which shall have been returned to the shareholders in re- duction of the paid up capital of the company under this Ordinance.
PART V.
Defunct Companies.
11. (1.) Where the Registrar of Companies has reason- able cause to believe that a company, whether registered before or after the passing of this Ordinance, is not carrying on business or in operation, he shall send to the company a letter inquiring whether the company is carrying on business or in operation.
(2.) If the Registrar does not within one month of sending the letter receive any answer thereto, he shall within fourteen days after the expiration of the month send to the company a second letter referring to the first letter, and stating that no answer thereto has been received by the Regis- trar, and that if an answer is not received to the second letter within one month from the date thereof, a notice will be published in the Gazette with a view to striking the name of the company. off the register.
•
(3.) If the Registrar either receives an answer from
the company to the effect that it is not carrying... on business or in operation, or does not within one month after sending the second letter receive any answer thereto, the Registrar may publish in the Gazette and send to the company a notice that at the expiration of three months from the date of that notice the name of the company mentioned therein will, unless cause is shown to the contrary, be struck off the register and the company will be dissolved.
(4.) At the expiration of the time mentioned in the notice the Registrar may, unless cause to the contrary is previously shown by such company, strike the name of such company off the register, and shall publish notice thereof in the Gazette, and on the publication in the Gazette of such last mentioned notice the company whose name is so struck off shall be dissolved: Provided that the liability (if any) of every director, managing officer, and member of the company shall continue and may he enforced as if the company had not been dissolved.
(5.) If any company or member thereof feels aggrieved by the name of such company having been struck off the register in pursuance of this section, the company or member may apply to the Supreme Court and the Court, if satisfied that the com- pany was at the time of the striking off carrying on business or in operation, and that it is just
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