1964_COMPANIES_ORDINANCE — Page 137

(

1984 Ed.]

Companies

[CAP. 32

247

(3) If it appears to the court in the course of a voluntary winding up that any past or present officer or member of the company has been guilty as aforesaid, and that no report with respect to the matter has been made by the liquidator to the Attorney General under subsection (2), the court may, on the application of any person interested in the winding up or of its own motion, direct the liquidator to make such a report, and on a report being made accordingly the provisions of this section shall have effect as though the report had been made in pursuance of the provisions of subsection (2). (Amended, 6 of 1984, s. 193)

(4) If, where any matter is reported or referred to the Attorney General under this section, he considers that the case is one in which a prosecution ought to be instituted, he shall institute proceedings accordingly, and it shall be the duty of the liquidator and of every officer and agent of the company past and present (other than the defendant in the proceedings) to give him all assistance in connexion with the prosecution which he is reasonably able to give.

For the purposes of this subsection, the expression "agent" in relation to a company shall be deemed to include any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.

(5) If any person fails or neglects to give assistance in manner required by subsection (4), the court may, on the application of the Attorney General, direct that person to comply with the requirements of the said subsection, and where any such application is made with respect to a liquidator the court may, unless it appears that the failure or neglect to comply was due to the liquidator not having in his hands sufficient assets of the company to enable him so to do, direct that the costs of the application shall be borne by the liquidator personally.

(Replaced, 78 of 1972, s. 17)

Supplement Provisions as to Winding Up

278. No person being an undischarged bankrupt and no body corporate shall be qualified for appointment as liquidator of a company, whether in a winding up by the court or in a voluntary winding up, and-

(a) any appointment made in contravention of this section shall be void; and

(b) where any such person or any body corporate acts as a liquidator of a company, such person or body corporate shall be liable to a fine of $5,000.

(Replaced, 6 of 1984, s. 194)

Disqualification for appointment as liquidator. [cf. 1948 c. 38, s. 335.]