Companies.
to the Accountant General, to such account as the Accountant General may direct, and the Accountant General may invest the sums paid over, or any part thereof, in Government securities, to be placed to the credit of the said account.
(2) When any part of the money so invested is, in the opinion of the Official Receiver, required to answer any demands in respect of companies' estates, he shall notify to the Accountant General the amount so required, and the Accountant General shall thereupon repay to the Official Receiver such sum as may be required to the credit of the companies liquidation account, and for that purpose may direct the sale of such part of the said securities as may be necessary.
(3) The dividends on investments under this section shall be paid into the companies liquidation account. [280
[CAP. 32
accounts of particular estates.
19 & 20 Geo. 5, c. 23, s. 302.
280. (1) An account shall be kept by the Official Receiver of the receipts and payments in the winding up of each company, and, when the cash balance standing to the credit of the account of any company is in excess of the amount which, in the opinion of the committee of inspection, is required for the time being to answer demands in respect of that company's estate, the Official Receiver shall, on the request of the committee, invest the amount not so required in Government securities, to be placed to the credit of the said account for the benefit of the company.
(2) When any part of the money so invested is, in the opinion of the committee of inspection, required to answer any demands in respect of the estate of the company, the Official Receiver shall, on the request of the committee, raise such sum as may be required by the sale of such part of the said securities as may be necessary.
(3) The dividends on investments under this section shall be paid to the credit of the company.
[281
Rules and Fees.
and fees.
19 & 20 Geo. 5, c. 23, s. 305.
281. (1) The Chief Justice may, with the concurrence of the Legislative Council, make general rules for carrying into effect the objects of this Ordinance so far as relates to the winding up of companies, and also rules for the purposes of this Ordinance generally, including rules as to costs.
—
181
Companies.
to the Accountant General, to such account as the Account- ant General may direct, and the Accountant General may invest the sums paid over, or any part thereof, in Govern- ment securities, to be placed to the credit of the said account.
(2) When any part of the money so invested is, in the opinion of the Official Receiver, required to answer any demands in respect of companies' estates, he shall notify to the Accountant General the amount so required, and the' Accountant General shall thereupon repay to the Official Receiver such sum as may be required to the credit of the companies liquidation account, and for that purpose may direct the sale of such part of the said securities as may be necessary.
(3) The dividends on investments under this section shall be paid into the companies liquidation account. [280
[CAP. 32
accounts of
particular 19 & 20 Geo. 5,
estates.
c. 23, s. 302.
280. (1) An account shall be kept by the Official Separate Receiver of the receipts and payments in the winding up of each company, and, when the cash balance standing to the credit of the account of any company is in excess of the amount which, in the opinion of the committee of inspec- tion, is required for the time being to answer demands in respect of that company's estate, the Official Receiver shall, on the request of the committee, invest the amount not so required in Government securities, to be placed to the credit of the said account for the benefit of the company.
(2) When any part of the money so invested is, in the opinion of he committee of inspection, required to answer any demands in respect of the estate of the company, the Official Receiver shall, on the request of the committee raise such sum as may be required by the sale of such part of the said securities as may be necessary.
(3) The dividends on investments under this section shall be paid to the credit of the company.
[281
Rules and Fees.
and fees.
c. 23, s. 305.
281. (1) The Chief Justice may, with the concurrence General rules of the Legislative Council make general rules for carrying 19 & 20 Geo. 5, into effect the objects of this Ordinance so far as relates to the winding up of companies, and also rules for the purposes of this Ordinance generally, including rules as to costs.
—
181
"
No comments yet.
Private notes are available after approval.