(
1984 Ed.]
Companies (Winding-up) Rules
[CAP. 32
H 57
[Subsidiary]
(3) Notwithstanding anything in this rule, any moneys representing unclaimed or undistributed assets or dividends in the hands of the liquidator at the date of the dissolution of the company shall forthwith be paid by him into the Companies Liquidation Account.
(4) A liquidator whose duty it is to pay into the Companies Liquidation Account money representing unclaimed or undistributed assets of the company shall pay in the same through the Official Receiver and shall be entitled to a certificate of receipt for the money so paid in Form 105.
(5) In a voluntary winding up, money invested or deposited at interest by a liquidator shall be deemed to be money under his control, and when such money forms part of the minimum balance payable into the Companies Liquidation Account pursuant to paragraph (2), the liquidator shall realize the investment or withdraw the deposit, and shall pay the proceeds into the Companies Liquidation Account, provided that where the money is invested in Government securities, or such securities as the court may direct, such securities may, with the permission of the court, be transferred to the control of the Official Receiver instead of being forthwith realized and the proceeds thereof paid into the Companies Liquidation Account. In the latter case, if and when the money represented by the securities is required wholly or in part for the purposes of the liquidation, the Official Receiver may realize the securities wholly or in part and pay the proceeds of realization into the Companies Liquidation Account and deal with the same in the same way as other moneys paid into the said account may be dealt with.
184. In a voluntary winding up, every person who has acted as liquidator of any company, whether the liquidation has been concluded or not, shall furnish to the Official Receiver particulars of any money in his hands or under his control representing unclaimed or undistributed assets of the company and such other particulars as the Official Receiver may require for the purpose of ascertaining or getting in any money payable into the Companies Liquidation Account at the bank. The Official Receiver may require such particulars to be verified by affidavit.
185. (1) In a voluntary winding up, the Official Receiver may at any time order any such person to submit an account verified by affidavit of the sums received and paid by him as liquidator of the company and may direct and enforce an audit of the account.
(2) For the purposes of section 285 of the Ordinance, and the rules, the court shall have, and, at the instance of the Official Receiver, may exercise all the powers conferred by the Bankruptcy Ordinance with respect to the discovery and realization of the property of a debtor, and the provisions of Part I of that Ordinance with respect thereto shall, with any necessary modification, apply to proceedings under section 285 of the Ordinance.
Form 105.
L.N. 201/84
Liquidator to furnish information to Official Receiver.
L.N. 201/84.
R. 197.
Form 97.
Official Receiver may call for verified accounts. L.N. 201/84. R. 198.
Forms 92 to 96.
(Cap. 6.)
(
1984 Ed.]
Companies (Winding-up) Rules
[CAP. 32
H 57
[Subsidiary]
(3) Notwithstanding anything in this rule, any moneys repre- senting unclaimed or undistributed assets or dividends in the hands of the liquidator at the date of the dissolution of the company shall forthwith be paid by him into the companies liquidation account.
(4) A liquidator whose duty it is to pay into the companies liquidation account money representing unclaimed or undistributed assets of the company shall pay in the same through the Official Receiver and shall be entitled to a certificate of receipt for the money so paid in Form 105.
(5) In a voluntary winding up money invested or deposited at interest by a liquidator shall be deemed to be money under his control, and when such money forms part of the minimum balance payable into the companies liquidation account pursuant to para- graph (2), the liquidator shall realize the investment or withdraw the deposit, and shall pay the proceeds into the companies liquidation account, provided that where the money is invested in Government securities, or such securities as the court may direct, such securities, may, with the permission of the court, be transferred to the control of the Official Receiver instead of being forthwith realized and the proceeds thereof paid into the companies liquidation account. In the latter case, if and when the money represented by the securities is required wholly or in part for the purposes of the liquidation, the Official Receiver may realize the securities wholly or in part and pay the proceeds of realization into the companies liquidation account and deal with the same in the same way as other moneys paid into the said account may be dealt with.
184. In a voluntary winding up, every person who has acted as liquidator of any company, whether the liquidation has been con- cluded or not, shall furnish to the Official Receiver particulars of any money in his hands or under his control representing unclaimed or undistributed assets of the company and such other particulars as the Official Receiver may require for the purpose of ascertaining or getting in any money payable into the companies liquidation. account at the bank. The Official Receiver may require such particu- lars to be verified by affidavit.
185. (1) In a voluntary winding up, the Official Receiver may at any
time order any such person to submit an account verified by affidavit of the sums received and paid by him as liquidator of the company and may direct and enforce an audit of the account.
(2) For the purposes of section 285 of the Ordinance, and the rules, the court shall have, and, at the instance of the Official Receiver, may exercise all the powers conferred by the Bankruptcy Ordinance with respect to the discovery and realization of the property of a debtor, and the provisions of Part I of that Ordinance with respect thereto shall, with any necessary modification, apply to proceedings under section 285 of the Ordinance.
Form 105.
L.N. 201/84
Liquidator to furnish information to Official Receiver.
L.N. 201/84.
R. 197.
Form 97.
Official Receiver may call for verified accounts. L.N. 201/84. R. 198.
Forms 92 to 96.
(Cap. 6.1
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