1901_COMPANIES_ORDINANCE__1865 — Page 38

88

Discretion of official liqui dator.

25 & 26 Vict.

c. 89 s. 96.

Appointment

No. 1.] THE ORDINANCES OF HONGKONG: [A.D. 1865.

(3.) to sell the real and personal property, effects, and things in ac- tion of the company by public auction or private contract, with power to transfer the whole thereof to any person or company or to sell the same in parcels ;

(4.) to do all acts and to execute, in the name and on behalf of the company, all deeds, receipts, and other documents, and for that purpose to use, when necessary, the company's seal;

(5.) to prove, rank, claim, and draw a dividend, in the matter of the bankruptcy of any contributory, for any balance against the estate of such contributory, and to take and receive dividends in respect of such balance, in the matter of bankruptcy, as a separate debt due from such bankrupt, and rateably with the other separate credit-

ors;

(6.) to draw, accept, make, and indorse any bill of exchange or pro- missory note in the name and on behalf of the company; and the drawing, accepting, making, or indorsing of every such bill of exchange or promissory note as aforesaid on behalf of the com- pany shall have the same effect with respect to the liability of the company as if such bill or note had been drawn, accepted, made, or indorsed by or on behalf of the company in the course of car- rying on the business thereof;

(7.) to raise from time to time, on the security of the assets of the

company, any requisite sum or sums of money;

(8.) to take out, if necessary, in his official name, letters of adminis- tration to any deceased contributory, and to do in his official name any other act that may be necessary for obtaining payment of any moneys due from a contributory or from his estate, and which act cannot be conveniently done in the name of the company; and in all cases where he takes out letters of administration, or otherwise uses his official name for obtaining payment of any moneys due from a contributory, such moneys shall, for the purpose of enabling him to take out such letters or recover such moneys, be deemed to be due to the official liquidator himself; and

for

(9.) to do and execute all such other things as may

be necessary winding up the affairs of the company and distributing its assets. 144. The Court may provide, by any order, that the official liquidator exercise any of the above powers without the sanction or interven- tion of the Court; and, where an official liquidator is provisionally appointed, may limit and restrict his powers by the order appointing him.

may

145. The official liquidator may, with the sanction of the Court, of solicitor to appoint a solicitor to assist him in the performance of his duties. official liqui-

dator.

Ib. s. 97.