COMPANIES.
No. 58 of 1911.
2167
of the company within 7 days after the confirmation of the resolution, he may require the liquidator either to abstain from carrying the resolution into effect, or to purchase his interest at a price to be determined by agreement or by arbitration in manner provided by this section.
(4) If the liquidator elects to purchase the member's interest the purchase money must be paid before the company is dissolved, and be raised by the liquidator in such manner as may be determined by special resolution.
(5) A special resolution shall not be invalid for the purposes of this section by reason that it is passed before or concurrently with a resolution for winding up the company, or for appointing liquidators; but, if an order is made within a year for winding up the company by or subject to the supervision of the Court, the special resolution shall not be valid unless sanctioned by the Court.
c. 16.
(6) For the purposes of an arbitration under this section the provisions of the Companies Clauses Consolidation Act, 1845, with respect to the settlement of disputes by arbitration, shall be incorporated with this Ordinance. In the construction of such provisions this Ordinance shall be deemed to be the special Act, and the company shall mean the transferor company, and the words "the Board of Trade" shall be read as meaning the Governor, and any appointment by the said incorporated provisions directed to be made under the hand of the secretary, or any two of the directors, may be made under the hand of the liquidator, if only one, or any two or more of the liquidators if more than one.
Court.
8 Edw. 7
186.-(1) Where a company is being wound up voluntarily the liquidator or any contributory or creditor or the Official Receiver may apply to the Court to determine any question arising in the winding up, or to exercise, as respects the enforcing of calls, or any other matter, all or any of the powers which the Court might exercise if the company were being wound up by the Court.
(2) The Court, if satisfied that the determination of the question or the required exercise of power will be just and beneficial, may accede wholly or partially to the application on such terms and conditions as the Court thinks fit, or may make such other order on the application as the Court thinks just.
c. 69 s. 193.
187.-(1) Where a company is being wound up voluntarily, the liquidator may summon general meetings of the company for the purpose of obtaining its sanction by special resolution or for any other purpose he may think fit.
ib. s. 194.
!
COMPANIES.
No. 58 of 1911.
2167
of the company within 7 days after the confirmation of the resolu- tion, he may require the liquidator either to abstain from carrying the resolution into effect, or to purchase his interest at a price to be determined by agreement or by arbitration in manner provided by this section.
(4) If the liquidator elects to purchase the member's interest the purchase money must be paid before the company is dissolved, and be raised by the liquidator in such manner as may be determined by special resolution.
(5) A special resolution shall not be invalid for the purposes of this section by reason that it is passed before or concurrently with a resolution for winding up the company, or for appointing liquida- tors; but, if an order is made within a year for winding up the company by or subject to the supervision of the Court, the special resolution shall not be valid unless sanctioned by the Court.
c. 16.
(6) For the purposes of an arbitration under this section the provisions of the Companies Clauses Consolidation Act, 1845, with 8&9 l'iet. respect to the settlement of disputes by arbitration, shall be in- corporated with this Ordinance. In the construction of such provisions this Ordinance shall be deemed to be the special Act, and the company
shall mean the transferor company, and the words the Board of Trade" shall be read as meaning the Governor, and any appointment by the said incorporated provisions directed to be made under the hand of the secretary, or any two of the directors, may be made under the hand of the liquidator, if only one, or any two or more of the liquidators if more than one.
Court.
8 Edw. 7
186.-(1) Where a company is being wound up voluntarily the Power to liquidator or any contributory or creditor or the Official Receiver apply to may apply to the Court to determine any question arising in the winding up, or to exercise, as respects the enforcing of calls, or any other matter, all or any of the powers which the Court might exercise if the company were being wound up by the Court.
(2) The Court, if satisfied that the determination of the question or the required exercise of power will be just and beneficial, may accede wholly or partially to the application on such terms and conditions as the Court thinks fit, or may make such other order on the application as the Court thinks just.
c. 69 s. 193.
187.-(1) Where a company is being wound up voluntarily, the Power of liquidator may summon general meetings of the company for the call general
liquidator to
meeting. ib. s. 194.
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