2006
{s. 10 could.]
No. 58 of 1911.
COMPANIES.
(b) that, with respect to every creditor who in the opinion of the court is entitled to object, and who signifies his objection in manner directed by the court, either his consent to the alteration has been obtained or his debt or claim has been discharged or has determined, or has been secured to the satisfaction of the court:
Provided that the court may, in the case of any person or class, for special reasons, dispense with the notice required by this section.
(4) The court may make an order confirming the alteration either wholly or in part, and on such terms and conditions as it thinks fit, and may make such order as to costs as it thinks proper.
(5) The court shall, in exercising its discretion under this section, have regard to the rights and interests of the members of the company or of any class of them, as well as to the rights and interests of the creditors, and may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the court for the purchase of the interests of dissentient members; and may give such directions and make such orders as it may think expedient for facilitating or carrying into effect any such arrangement: Provided that no part of the capital of the company may be expended in any such purchase.
(6) A sealed copy of the order confirming the alteration, together with a printed copy of the memorandum as altered, shall, within twenty-eight days from the date of the order, be delivered by the company to the Registrar of Companies, and he shall register the same, and shall certify the registration under his hand, and the certificate shall be conclusive evidence that all the requirements of this Ordinance with respect to the alteration and the confirmation thereof have been complied with, and thenceforth the memorandum so altered shall be the memorandum of the company.
The court may by order at any time extend the time for the delivery of documents to the Registrar of Companies under this section for such period as the court may think proper.
2006
{s. 10 could.]
No. 58 of 1911.
COMPANIES.
(b) that, with respect to every creditor who in the opinion of the court is entitled to object, and who signifies his objection in manner directed by the court, either his consent to the alteration has been obtained or his debt or claim has been discharged or has determined, or has been secured to the satisfaction of the court:
Provided that the court may, in the case of any person or class, for special reasons, dispense with the notice required by this section.
(4) The court may make an order confirming the altera- tion either wholly or in part, and on such terms and conditions as it thinks fit, and may make such order as to costs as it thinks proper.
(5) The court shall, in exercising its discretion under this section, have regard to the rights and interests of the members of the company or of any class of them, as well as to the rights and interests of the creditors, and may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the court for the purchase of the interests of dissentient members; amd may give such directions and make such orders as it may think expedient for facilitating or carrying into effect any such arrangement: Provided that no part of the capital of the company may be expended in any such purchase.
(6) A sealed copy of the order confirming the alteration, together with a printed copy of the memorandum as altered, shall, within twenty-eight days from the date of the order, be delivered by the company to the Registrar of Companies, and he shall register the same, and shall certify the registration under his hand, and the certificate shall be conclusive evidence that all the requirements of this Ordinance with respect to the alteration and the confirma- tion thereof have been complied with, and thenceforth the memorandum so altered shall be the memorandum of the
company.
The court may by order at any time extend the time for the delivery of documents to the Registrar of Companies under this section for such period as the court may think proper.
No comments yet.
Private notes are available after approval.