COMPANIES.
No. 58 of 1911.
2169
(5) It shall be the duty of the person on whose application an order of the Court under this section is made, within 7 days after the making of the order, to file with the Registrar an office copy of the order, and if that person fails so to do he shall be liable to a fine not exceeding 50 dollars for every day during which the default continues.
Voluntary liquidation.
189. All costs, charges, and expenses properly incurred in the costs of voluntary winding up of a company, including the remuneration of the liquidator, shall be payable out of the assets of the company in priority to all other claims.
8 Edw. 7 c. 69 s. 196.
Creditors and contributories.
190. The voluntary winding up of a company shall not bar the saving for right of any creditor or contributory to have it wound up by the rights of Court, if the Court is of opinion, in the case of an application by a contributory, that the rights of the creditor or, in the case of an application by a contributory, that the rights of the contributories will be prejudiced by a voluntary winding up.
Court to adopt proceedings.
191. Where a company is being wound up voluntarily, and an power of order is made for winding up by the Court, the Court may, if it thinks fit, by the same or any subsequent order provide for the adoption of all or any of the proceedings in the voluntary winding up.
Winding Up subject to Supervision of Court.
Proceedings of voluntary winding up subject to supervision.
192. When a company has by special or extraordinary resolution power to resolved to wind up voluntarily, the Court may make an order that the voluntary winding up shall continue but subject to such supervision of the Court, and with such liberty for creditors, contributories, or others to apply to the Court, and generally on such terms and conditions as the Court thinks just.
Effect of petition for winding up subject to supervision.
193. A petition for the continuance of a voluntary winding up subject to the supervision of the Court shall, for the purpose of giving jurisdiction to the Court over actions, be deemed to be a petition for winding up by the Court.
194. The Court may, in deciding between a winding up by the Court and a winding up subject to supervision, in the appointment of liquidators, and in all other matters relating to the winding up subject to supervision, have regard to the wishes of the creditors or contributories as proved to it by any sufficient evidence.
Page 95
Page 96
ļ
COMPANIES.
No. 58 of 1911.
2169
(5) It shall be the duty of the person on whose application an order of the Court under this section is made, within 7 days after the making of the order, to. file with the Registrar an office copy of the order, and if that person fails so to do he shall be liable to a fine not exceeding 50 dollars for every day during which the default continues.
voluntary liquidation.
189. All costs, charges, and expenses properly incurred in the Costs of voluntary winding up of a company, including the remuneration of the liquidator, shall be payable out of the assets of the company in priority to all other claims.
8 Edw. 7
c. 69 s. 196.
creditors and
tories.
190. The voluntary winding up of a company shall not bar the Saving for right of any creditor or contributory to have it wound up by the rights of Court, if the Court is of opinion, in the case of an application by a contribu- creditor, that the rights of the creditor or, in the case of an applica- .s. 197. tion by a contributory, that the rights of the contributories will be prejudiced by a voluntary winding up.
Court to adopt pro-
191. Where a company is being wound up voluntarily, and an Power of order is made for winding up by the Court, the Court may, if it thinks fit, by the same or any subsequent order provide for the adoption of all or any of the proceedings in the voluntary winding winding up.
up.
Winding Up subject to Supervision of Court.
ceedings of voluntary
ib. s. 198.
sub-
order wind- ject to super-
ing up
192. When a company has by special or extraordinary resolution Power to resolved to wind up voluntarily, the Court may make an order that the voluntary winding up shall continue but subject to such super- vision of the Court, and with such liberty for creditors, contribu- tories, or others to apply to the Court, and generally on such terms and conditions as the Court thinks just.
vision.
b. s. 199.
Effect of of petition for winding up be subject to
193. A petition for the continuance of a voluntary winding up subject to the supervision of the Court shall, for the purpose giving jurisdiction to the Court over actions, be deemed to a petition for winding up by the Court.
supervision. ib. s. 200.
194. The Court may, in deciding between a winding up by the Court may
have regard Court and a winding up subject to supervision, in the appointment of to wishes of liquidators, and in all other matters relating to the winding up creditors and subject to supervision, have regard to the wishes of the creditors tories. or contributories as proved to it by any sufficient evidence.
contribu-
ib. s. 201.
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