Companies.
[CAP. 32
give up the security for the benefit of the creditors generally on payment of the value so estimated with an addition thereto of twenty per cent :
Provided that where a creditor has valued his security he may at any time before being required to give it up correct the valuation by a new proof and deduct the new value from his debt, but in that case the said addition of twenty per cent shall not be made if the security is required to be given up.
128. The chairman shall have power to admit or reject a proof for the purpose of voting, but his decision shall be subject to appeal to the court. If he is in doubt whether a proof should be admitted or rejected he shall mark it as objected to and allow the creditor to vote subject to the vote being declared invalid in the event of the objection being sustained.
129. For the purpose of voting at any voluntary liquidation meetings a secured creditor shall unless he surrender his security lodge with the liquidator or where there is no liquidator at the registered office of the company before the meeting a statement giving the particulars of his security, the date when it was given and the value at which he assesses it.
130. (1) The chairman shall cause minutes of the proceedings at the meeting to be drawn up and fairly entered in a book kept for that purpose or in the file of proceedings and the minutes shall be signed by him or by the chairman of the next ensuing meeting.
Admission of proofs for voting
and rejection
purpose of
R. 141.
Statement
R. 142.
of security.
Minutes of
meeting.
R. 143.
(2) A list of creditors and contributories present at every meeting shall be made and kept as in Form 22.
Proxies in relation to a Winding up by the Court, and to meetings of Creditors in a Creditors voluntary Winding up.
R. 144.
131. A creditor or a contributory may vote either in person or by proxy. Where a person is authorized in manner provided by section 115 of the Ordinance to represent a corporation at any meeting of creditors or contributories such person shall produce to the Official Receiver or liquidator or other the chairman of the meeting a copy of the resolution
83
Companies.
[CAP. 32
give up the security for the benefit of the creditors generally on payment of the value so estimated with an addition thereto of twenty per cent :
Provided that where a creditor has valued his security he may at any time before being required to give it up correct the valuation by a new proof and deduct the new value from his debt, but in that case the said addition of twenty per cent shall not be made if the security is required to be given up.
128. The chairman shall have power to admit or reject a proof for the purpose of voting, but his decision shall be subject to appeal to the court. If he is in doubt whether a proof should be admitted or rejected he shall mark it as objected to and allow the creditor to vote subject to the vote being declared invalid in the event of the objection being sustained.
129. For the purpose of voting at any voluntary liquida- tion meetings a secured creditor shall unless he surrender his security lodge with the liquidator or where there is no liquidator at the registered office of the company before the meeting a statement giving the particulars of his security, the date when it was given and the value at which he assesses it.
130. (1) The chairman shall cause minutes of the pro- ceedings at the meeting to be drawn up and fairly entered in a book kept for that purpose or in the file of proceedings and the minutes shall be signed by him or by the chairman of the next ensuing meeting.
Admission of proofs for voting.
and rejection
purpose of
R. 141.
Statement R. 142.
of security.
Minutes of
meeting.
R. 143.
(2) A list of creditors and contributories present at every Form 22. meeting shall be made and kept as in Form 22.
Proxies in relation to a Winding up by the Court, and to meetings of Creditors in a Creditors voluntary Winding up.
R. 144.
131. A creditor or a contributory may vote either in Proxies. person or by proxy. Where a person is authorized in manner provided by section 115 of the Ordinance to represent a corporation at any meeting of creditors or contributories such person shall produce to the Official Receiver or liquidator or other the chairman of the meeting a copy of the resolution
83
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