CAP. 32]
Companies.
[r. 116 cont.] venient for the majority of the creditors or contributories, or both. Different times or places or both may if thought expedient be named for the meetings of creditors and for the meetings of contributories.
Costs of calling meeting. R. 130.
Chairman of meeting.
R. 131. Form 79.
Ordinary resolution of creditors and
117. The costs of summoning a meeting of creditors or contributories at the instance of any person other than the Official Receiver or liquidator shall be paid by the person at whose instance it is summoned who shall before the meeting is summoned deposit with the Official Receiver or liquidator (as the case may be) such sum as may be required by the Official Receiver or liquidator as security for the payment of such costs. The costs of summoning such meeting of creditors or contributories, including all disbursements for printing, stationery, postage and the hire of room, shall be calculated at the following rate for each creditor or contributory to whom notice is required to be sent, namely $1 per creditor or contributory for the first twenty creditors or contributories, and 50 cents per creditor or contributory for the next thirty creditors or contributories, and 25 cents per creditor or contributory for any number of creditors or contributories after the first fifty.
The said costs shall be repaid out of the assets of the company if the court shall by order or if the creditors or contributories (as the case may be) shall by resolution so direct. This rule shall not apply to meetings under sections 226 and 230 of the Ordinance.
118. Where a meeting is summoned by the Official Receiver or the liquidator, he or someone nominated by him shall be chairman of the meeting. At every other meeting of creditors or contributories the chairman shall be such person as the meeting by resolution shall appoint. This rule shall not apply to meetings under section 226 of the Ordinance.
119. At a meeting of creditors a resolution shall be deemed to be passed when a majority in number and value of the creditors present personally or by proxy and voting on the resolution have voted in favour of the resolution, and at a meeting of the contributories a resolution shall be deemed to be passed when a majority in number and value
R. 132.
So
CAP. 32]
Companies.
[r. 116 cont.] venient for the majority of the creditors or contributories, or both. Different times or places or both may if thought expedient be named for the meetings of creditors and for the meetings of contributories.
Costs of calling meeting. R. 130.
Chairman of meeting.
R. 131. Form 79.
Ordinary
resolution of creditors and
117. The costs of summoning a meeting of creditors or contributories at the instance of any person other than the Official Receiver or liquidator shall be paid by the person at whose instance it is summoned who shall before the meeting is summoned deposit with the Official Receiver or liquidator (as the case may be) such sum as may be re- quired by the Official Receiver or liquidator as security for the payment of such costs. The costs of summoning such meeting of creditors or contributories, including all disburse- ments for printing, stationery, postage and the hire of room, shall be calculated at the following rate for each creditor or contributory to whom notice is required to be sent, namely $1 per creditor or contributory for the first twenty creditors or contributories, and 50 cents per creditor or contributory for the next thirty creditors or contributories, and 25 cents per creditor or contributory for any number of creditors or contributories after the first fifty.
The said costs shall be repaid out of the assets of the company if the court shall by order or if the creditors or contributories (as the case may be) shall by resolution so direct. This rule shall not apply to meetings under seç- tions 226 and 230 of the Ordinance.
118. Where a meeting is summoned by the Official Re- ceiver or the liquidator, he or someone nominated by him shall be chairman of the meeting. At every other meeting of creditors or contributories the chairman shall be such person as the meeting by resolution shall appoint. This rule shall not apply to meetings under section 226 of the Ordinance.
119. At a meeting of creditors a resolution shall be deemed to be passed when a majority in number and value contributories. of the creditors present personally or by proxy and voting on the resolution have voted in favour of the resolution, and at a meeting of the contributories a resolution shall be deemed to be passed when a majority in number and value
R. 132.
So
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