1890_COMPANIES_ORDINANCE__1886 — Page 9

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THE HONGKONG GOVERNMENT GAZETTE, 15TH JANUARY, 1887.

Investment. [ibid, r. 48]
Receipt of dividends. [ibid, r. 44]
Notice. [ibid, r. 45]
Votes. [ibid, r. 46]
Memorandum as to calling meeting. [ibid, r. 47]
Bill of exchange or promissory note. [ibid, r. 48]
Compromise. [ibid, r. 19]
Other cases. [ibid, r. 30]
Application how made. [ibid, r. 51]
Drawing up orders. [ibid, r. 52]
Insertion of advertisements. [ibid, r. 53]
Notice to admit [ibid, r. 54]

44. All or any part of the money for the time being standing to the credit of the account of the official liquidator in Court or at any such Bank as aforesaid and not immediately required for the purposes of the winding-up, may be invested as the Court may direct in the name of the official liquidator. All such investments shall be made upon a request signed by the official liquidator, and countersigned by the Registrar and which request shall be a sufficient authority for debiting the account with the purchase money and the securities share-certificates or other documents representing such investments shall be retained by or deposited with the Registrar or such Bank as aforesaid in the name and on behalf of the official liquidator and such investments shall not afterwards be sold or transferred or otherwise dealt with except upon a direction for that purpose signed by the official liquidator and countersigned by the Registrar or under an order to be made by the Judge.

45. All dividends and interest to accrue due upon any such investments shall from time to time be received by the Registrar or by such Bank as aforesaid under a power of attorney to be executed by the official liquidator and placed to the credit of the account of such official liquidator.

Meetings of Creditors or Contributories.

46. When the judge shall direct a meeting of the creditors or contributories of the company to be summoned under the 88th or 137th section of The Companies Ordinance 1865 the official liquidator shall give notice in writing seven clear days before the day appointed for such meeting, to every creditor or contributory, of the time and place appointed for such meeting, and of the matter upon which the judge desires to ascertain the wishes of the creditors or contributories; or, if the judge shall so direct, such notice may be given by advertisement in which case the object of the meeting need not be stated, and it shall not be necessary to insert such advertisement in the Gazette.

47. The votes of the creditors or contributories of the company at any meeting summoned by the direction of the judge, may be given either personally or by proxy but no creditor shall appoint a proxy who is not a creditor of the company whose debt or claim has been allowed, and no contributory shall appoint a proxy who is not a contributory of the company.

48. The direction of the judge for any meeting of creditors or contributories under the 88th or 137th section of The Companies Ordinance 1865 and the appointment of a person to act as chairman of any such meeting, shall be testified by a memorandum signed by the Registrar.

Direction or Sanction of the Judge.

49. The sanction of the judge to the drawing, accepting, making and indorsing of any bill of exchange or promissory note by any official liquidator shall be testified by a memorandum on such bill of exchange, or promissory note, signed by the Registrar.

50. Every application for the sanction of the judge to a compromise with any contributory or other person indebted to the company shall be supported by the affidavit of the official liquidator that he has investigated the affairs of such contributory or person, and stating his belief that the proposed compromise will be beneficial to the company, and his reasons for such belief; and the sanction of the judge thereto shall be testified by a memorandum, signed by the Registrar on the agreement of compromise unless any party shall desire to appeal from the decision of the judge, in which case an order shall be drawn up for that purpose.

51. The direction, or sanction of the judge for any other proceeding or act to be taken or done by the official liquidator shall be obtained upon summons, and an order shall be drawn up thereon, unless the judge shall otherwise direct.

Application to the Court or Judge under Sections 125, 126, 129, 155 and 156 of the Companies Ordinance 1865.

52. Every application under the 125th, 126th or 129th section of The Companies Ordinance 1865 shall be made by petition or motion, or if the judge shall so direct, by summons at chambers; and every application under the 155th or 156th section of the said Ordinance shall be made by petition.

Orders.

53. All orders made in chambers shall be drawn up in chambers, unless specially directed to be drawn up by the Registrar and shall be entered in the same manner, as other orders made in chambers.

Advertisements.

54. When an advertisement is required for any purpose except where otherwise directed by these Rules, the advertisement shall be inserted once in the Gazette, and in such other newspaper or newspapers, and for such number of times as may be directed. The judge may, in such cases as he shall think fit, dispense with any advertisement required by these Rules.

Admission of Documents.

55. Any party to any proceeding in Court or chambers relating to the winding-up of a Company may by notice in writing call on any other party thereto competent to admit the same, to admit any document saving all just exceptions; and in case of refusal or neglect so to admit, the costs of proving such document shall be paid by the party so refusing or neglecting unless, the judge shall be of opinion that the refusal to admit was reasonable; and no costs of proving any document shall be allowed unless such notice shall have been given, except in cases where the omission to give such notice has been, in the opinion of the Registrar on taxation, a saving of expense.