2144
Definition of contributory. 8 Edw. 7
c. 69 s. 124.
Nature of liability of contributory. ib. s. 125.
Contributories in case of death of member. ib. s. 126.
Contributories in case of bankruptcy of member. ib. s. 127.
Provisions as to married women. ib. s. 128.
*
No. 58 of 1911.
COMPANIES.
means every person liable to 125. The term "contributory contribute to the assets of a company in the event of its being wound up, and, in all proceedings for determining and in all proceedings prior to the final determination of the persons who are to be deemed contributories, includes any person alleged to be a contributory.
126. The liability of a contributory shall create a debt of the nature of a specialty accruing due from him at the time when his liability commenced, but payable at the times when calls are made for enforcing the liability.
127.—(1) If a contributory dies either before or after he has been placed on the list of contributories, his personal representatives and his heirs and devisees, shall be liable in a due course of administration to contribute to the assets of the company in discharge of his liability and shall be contributories accordingly.
(2) Where the personal representatives are placed on the list of contributories, the heirs or devisees shall not be added unless the Court thinks fit.
(3) If the personal representatives make default in paying any money ordered to be paid by them, proceedings may be taken for administering the personal and real estates of the deceased contributory, or either of them, and of compelling payment thereout of the money due.
128. If a contributory becomes bankrupt, either before or after he has been placed on the list of contributories, then-
(1) his trustee in bankruptcy shall represent him for all the purposes of the winding up, and shall be a contributory accordingly, and may be called on to admit to proof against the estate of the bankrupt, or otherwise to allow to be paid out of his assets in due course of law, any money due from the bankrupt in respect of his liability to contribute to the assets of the company; and
(2) there may be proved against the estate of the bankrupt the estimated value of his liability to future calls as well as calls already made.
129.-(1) The husband of a female contributory married before 1st January, 1883, shall, during the continuance of the marriage, be liable, as respects any liability attaching to any shares acquired
* As amended by No. 16 of 1912.
Page 70
Page 71
2144
Definition of contributory. 8 Edw. 7
c. 69 s. 124.
Nature of liability of contributory. ib. s. 125.
Contribu-
tories in case of death of member.
ib. s. 126.
Contribu-
tories in case of bank- ruptcy of member. ib. s. 127.
Provisions as
to married
women.
ib. s. 128.
*
No. 58 of 1911.
COMPANIES.
means every person liable to 125. The term "contributory contribute to the assets of a company in the event of its being wound up, and, in all proceedings for determining and in all proceedings prior to the final determination of the persons who are to be deemed contributories, includes any person alleged to be a contributory.
126. The liability of a contributory shall create a debt of the nature of a specialty accruing due from him at the time when his liability commenced, but payable at the times when calls are made for enforcing the liability.
127.—(1) If a contributory dies either before or after he has been placed on the list of contributories, his personal representatives and his heirs and devisees, shall be liable in a due course of administra- tion to contribute to the assets of the company in discharge of his liability and shall be contributories accordingly.
(2) Where the personal representatives are placed on the list of contributories, the heirs or devisees shall not be added unless the Court thinks fit.
(3) If the personal representatives make default in paying any money ordered to be paid by them, proceedings may be taken for administering the personal and real estates of the deceased contribu- tory, or either of them, and of compelling payment thereout of the money due.
128. If a contributory becomes bankrupt, either before or after he has been placed on the list of contributories, then-
(1) his trustee in bankruptcy shall represent him for all the pur- poses of the winding up, and shall be a contributory accordingly, and may be called on to admit to proof against the estate of the bankrupt, or otherwise to allow to be paid out of his assets in due course of law, any money due from the bankrupt in respect of his liability to contribute to the assets of the company; and
(2) there may be proved against the estate of the bankrupt the estimated value of his liability to future calls as well as calls already made.
129.-(1) The husband of a female contributory married before 1st January, 1883, shall, during the continuance of the marriage, be liable, as respects any liability attaching to any shares acquired
* As amended by No. 16 of 1912.
Page 70Page 71
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