2190
No. 58 of 1911.
Actions stayed on winding-up order. 8 Edw. 7 c. 69 s. 266.
COMPANIES.
application to stay or restrain is by a creditor, extend to actions and proceedings against any contributory of the company.
244. Where an order has been made for winding up a company registered in pursuance of this Part of this Ordinance no action or proceeding shall be commenced or proceeded with against the company or any contributory of the company in respect of any debt of the company, except by leave of the Court, and subject to such terms as the Court may impose.
Meaning of unregistered company. ib. s. 267.
*
PART VIII.
WINDING UP OF UNREGISTERED COMPANIES.
245. For the purposes of this Part of this Ordinance the expression "unregistered company" shall not include a railway company incorporated by Ordinance nor a company registered under the Companies Ordinance, 1865, or under this Ordinance, but, save as aforesaid, shall include any partnership, association, or company consisting of more than 7 members.
246. (1) Subject to the provisions of this Part of this Ordinance, any unregistered company may be wound up under this Ordinance and all the provisions of this Ordinance with respect to winding up shall apply to an unregistered company, with the following exceptions and additions:—
ib. s. 268.
(i) The principal place of business, in the Colony, of an unregistered company shall for all the purposes of the winding up be deemed to be the registered office of the company.
(ii) No unregistered company shall be wound up under this Ordinance voluntarily or subject to supervision.
(iii) The circumstances in which an unregistered company may be wound up are as follows:—
(a) if the company is dissolved, or has ceased to carry on business, or is carrying on business only for the purpose of winding up its affairs;
(b) if the company is unable to pay its debts;
(c) if the Court is of opinion that it is just and equitable that the company should be wound up.
* As amended by No. 16 of 1912.
As amended by No. 50 of 1911 and No. 17 of 1912.
2190
No. 58 of 1911.
Actions
stayed on winding-up order. 8 Edw. 7
c. 69 s. 266.
COMPANIES.
application to stay or restrain is by a creditor, extend to actions and proceedings against any contributory of the company.
244. Where an order has been made for winding up a company registered in pursuance of this Part of this Ordinance no action or proceeding shall be commenced or proceeded with against the com- pany or any contributory of the company in respect of any debt of the company, except by leave of the Court, and subject to such terms as the Court may impose.
Meaning of unregistered
company. ib. s. 267.
*
Winding up of unregister-
PART VIII.
WINDING UP OF UNREGISTERED COMPANIES.
245. For the purposes of this Part of this Ordinance the expres- sion "unregistered company " shall not include a railway company incorporated by Ordinance nor a company registered under the Companies Ordinance, 1865, or under this Ordinance, but, save as aforesaid, shall include any partnership, association, or company consisting of more than 7 members.
246. (1) Subject to the provisions of this Part of this Ordinance ed companies, any unregistered company may be wound up under this Ordinance and all the provisions of this Ordinance with respect to winding up shall apply to an unregistered company, with the following exceptions and additions :—
ib. s. 268.
(i) The principal place of business, in the Colony, of an un- registered company shall for all the purposes of the winding up be deemed to be the registered office of the company.
(ii) No unregistered company shall be wound up under this Ordinance voluntarily or subject to supervision.
(iii) The circumstances in which an unregistered company may be wound up are as follows:-
(a) if the company is dissolved, or has ceased to carry on business, or is carrying on business only for the purpose of winding up its affairs;
(b) if the company is unable to pay its debts;
(c) if the Court is of opinion that it is just and equitable that the company should be wound up.
* As amended by No. 16 of 1912.
As amended by No. 50 of 1911 and No. 17 of 1912.
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