COMPANIES.
No. 58 of 1911.
2095
Ordinary powers of the court.
tributories
158. (1) As soon as may be after making a winding-up order, the court shall settle a list of contributories, with a list of contributories, and shall cause the assets of the company to be collected, and applied in discharge of its liabilities, and shall have power to rectify the register of members in all cases where rectification is required in pursuance of this Ordinance.
(2) In settling the list of contributories, the court shall distinguish between persons who are contributories in their own right and persons who are contributories as being representatives of or liable to the debts of others.
8 Edw. 7. c. 69, s. 164.
159. The court may, at any time after making a winding-up order, require any contributory for the time being settled on the list of contributories, and any trustee, receiver, banker, agent, or officer of the company to pay, deliver, convey, surrender, or transfer forthwith, or within such time as the court directs, to the liquidator any money, property, or books and papers in his hands to which the company is prima facie entitled.
160.-(1) The court may, at any time after making a winding-up order, make an order on any contributory for the time being settled on the list of contributories to pay, in manner directed by the order, any money due from him or from the estate of the person whom he represents to the company, exclusive of any money payable by him or the estate by virtue of any call in pursuance of this Ordinance.
(2) The court in making such an order may, in the case of an unlimited company, allow to the contributory by way of set-off any money due to him or the estate which he represents from the company on any independent dealing or contract with the company, but not any money due to him as a member of the company in respect of any dividend or profit; and may, in the case of a limited company, make to any director or manager whose liability is unlimited or to his estate the like allowance.
(3) But in the case of any company, whether limited or unlimited, when all the creditors are paid in full, any money due on any account whatever to a contributory from the company may be allowed to him by way of set-off against any subsequent call.
8 Edw. 7. c. 69, s. 165.
Page 95
Page 96
COMPANIES.
No. 58 of 1911.
2095
Ordinary powers of the court.
tributories
158. (1) As soon as may be after making a winding-up Settlement order, the court shall settle a list of contributories, with a list of con- power to rectify the register of members in all cases where and applica- rectification is required in pursuance of this Ordinance, and tion of assets. shall cause the assets of the company to be collected, and c. 69, s. 163. applied in discharge of its liabilities.
(2) In settling the list of contributories, the court shall distinguish between persons who are contributories in their own right and persons who are contributories as being representatives of or liable to the debts of others.
8 Edw. 7.
8 Edw. 7. c. 69, s. 164.
159. The court may, at any time after making a winding- lower to up order, require any contributory for the time being settled require
delivery of on the list of contributories, and any trustee, receiver, property. banker, agent, or officer of the company to pay, deliver, convey, surrender, or transfer forthwith, or within such time as the court directs, to the liquidator any money, property, or books and papers in his hands to which the company is prima facie entitled.
ment of
160.-(1) The court may, at any time after making a Power to
order pay- winding-up order, make an order on any contributory for the time being settled on the list of contributories to pay, in debts by manner directed by the order, any money due from him or contributory, from the estate of the person whom he represents to the e. 69, s. 165. company, exclusive of any money payable by him or the estate by virtue of any call in pursuance of this Ordinance.
(2) The court in making such an order may, in the case of an unlimited company, allow to the contributory by way of set-off any money due to him or the estate which he represents from the company on any independent dealing or contract with the company, but not any money due to him as a member of the company in respect of any dividend or prolit; and may, in the case of a limited company, make to any director or manager whose liability is unlimited or to his estate the like allowance.
(3) But in the case of any company, whether limited or unlimited, when all the creditors are paid in full, any money due on any account whatever to a contributory from the company may be allowed to him by way of set-off against any subsequent call.
8 Edw. 7.
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Page 95Page 96
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