H 48
[Subsidiary]
Resignation of liquidator.
R. 165.
Office of liquidator vacated by his insolvency.
R. 166.
CAP. 32]
Companies (Winding-up) Rules
[1984 Ed.
Provided that such liquidator shall have, before the assets are handed over to him by the Official Receiver, discharged any balance due to the Official Receiver on account of fees, costs, and charges properly incurred by him, and on account of any advances properly made by him in respect of the company, together with interest on such advances at the rate of 8 per cent per annum; and the Liquidator shall pay all fees, costs, and charges of the Official Receiver which may not have been discharged by the liquidator before being put into possession of the property of the company, and whether incurred before or after he has been put into such possession.
(2) The Official Receiver shall be deemed to have a lien upon the company's assets until such balance shall have been paid and the other liabilities shall have been discharged.
(3) It shall be the duty of the Official Receiver, if so requested by the liquidator, to communicate to the liquidator all such information respecting the estate and affairs of the company as may be necessary or conducive to the due discharge of the duties of the liquidator.
(4) This rule and rule 154 shall apply only in a winding up by the court.
154. A liquidator who desires to resign his office shall summon separate meetings of the creditors and contributories of the company to decide whether or not the resignation shall be accepted. If the creditors and contributories by ordinary resolutions both agree to accept the resignation of the liquidator, he shall file with the Registrar a memorandum of his resignation, and shall send notice thereof to the Official Receiver, and the resignation shall thereupon take effect. In any other case the liquidator shall report to the court the result of the meetings and shall send a report to the Official Receiver and thereupon the court may, upon the application of the liquidator or the Official Receiver, determine whether or not the resignation of the liquidator shall be accepted, and may give such directions and make such orders as in the opinion of the court shall be necessary.
155. If a Receiving Order in bankruptcy is made against the liquidator, he shall thereby vacate his office, and for the purposes of the application of the Ordinance and rules shall be deemed to have been removed.
Payments out of bank.
L.N. 16/77.
R. 167.
PAYMENTS INTO AND OUT OF A BANK
156. All payments out of the companies liquidation account shall be made in such manner as the Director of Accounting Services may from time to time direct.
H 48
[Subsidiary]
Resignation of liquidator.
R. 165.
Office of liquidator
vacated by his insolvency.
R. 166.
CAP. 32]
Companies (Winding-up) Rules
[1984 Ed.
Provided that such liquidator shall have, before the assets are handed over to him by the Official Receiver, discharged any balance due to the Official Receiver on account of fees, costs, and charges properly incurred by him, and on account of any advances properly made by him in respect of the company, together with interest on such advances at the rate of 8 per cent per annum; and the Liquidator shall pay all fees, costs, and charges of the Official Receiver which may not have been discharged by the liquidator before being put into possession of the property of the company, and whether incurred before or after he has been put into such possession.
(2) The Official Receiver shall be deemed to have a lien upon the company's assets until such balance shall have been paid and the other liabilities shall have been discharged.
(3) It shall be the duty of the Official Receiver, if so requested by the liquidator, to communicate to the liquidator all such informa- tion respecting the estate and affairs of the company as may be necessary or conducive to the due discharge of the duties of the liquidator.
(4) This rule and rule 154 shall apply only in a winding up by the court.
154. A liquidator who desires to resign his office shall summon separate meetings of the creditors and contributories of the com- pany to decide whether or not the resignation shall be accepted. If the creditors and contributories by ordinary resolutions both agree to accept the resignation of the liquidator, he shall file with the Registrar a memorandum of his resignation, and shall send notice thereof to the Official Receiver, and the resignation shall thereupon take effect. In any other case the liquidator shall report to the court the result of the meetings and shall send a report to the Official Receiver and thereupon the court may, upon the application of the liquidator or the Official Receiver, determine whether or not the resignation of the liquidator shall be accepted, and may give such directions and make such orders as in the opinion of the court shall be necessary.
155. If a Receiving Order in bankruptcy is made against the liquidator, he shall thereby vacate his office, and for the purposes of the application of the Ordinance and rules shall be deemed to have been removed.
Payments out of bank.
L.N. 16/77.
R. 167.
PAYMENTS INTO AND OUT OF A BANK
156. All payments out of the companies liquidation account shall be made in such manner as the Director of Accounting Services may from time to time direct.
No comments yet.
Private notes are available after approval.