1950_COMPANIES_ORDINANCE — Page 136

CAP. 32]

[s. 222 cont.]

c. 16.)

Companies.

(6) For the purposes of an arbitration under this (8 & 9 Vict. section, the provisions of the Companies Clauses Consolida- tion Act, 1845, with respect to the settlement of disputes by arbitration, shall be incorporated with this Ordinance, and in the construction of those provisions this Ordinance shall be deemed to be the special Act, and the company shall mean the transferor company, and any appointment by the said incorporated provisions directed to be made under the hand of the secretary, or any two of the directors, may be made under the hand of the liquidator, or, if there is more than one liquidator, then of any two or more of the liquida- tors, and all powers given by the said Act to the Board of Trade shall be exercised by the Governor.

[223

Duty of liquidator to call genral meeting at end of

each year.

19 & 20 Geo. 5,

c. 23, s. 235.

22 of 1950, Schedule.

Final meeting

and dissolu-

tion.

19 & 20 Geo. 5,

223. (1) In the event of the winding up continuing for more than one year, the liquidator shall summon a general meeting of the company at the end of the first year from the commencement of the winding up, and of each succeed- ing year, or as soon thereafter as may be convenient, and shall lay before the meeting an account of his acts and dealings and of the conduct of the winding up during the preceding year.

(2) If the liquidator fails to comply with this section, he shall be liable to a fine of five hundred dollars.

[224

224. (1) As soon as the affairs of the company are fully wound up,

the liquidator shall make up an account of the c. 23, s. 236. winding up, showing how the winding up has been con- ducted and the property of the company has been disposed of, and thereupon shall call a general meeting of the com- pany for the purpose of laying before it the account, and giving any explanation thereof.

(2) The meeting shall be called by advertisement in the Gazette, specifying the time, place, and object thereof, and published one month at least before the meeting.

(3) Within three weeks after the meeting, the liquida- tor shall send to the Registrar a copy of the account, and shall make a return to him of the holding of the meeting and of its date, and if the copy is not sent or the return is not made in accordance with this subsection the liquidator shall be liable to a fine of fifty dollars for every day during

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