1964_COMPANIES_ORDINANCE — Page 147

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1984 Ed.]

Companies

[CAP. 32

257

have apart from this subsection, or as limiting his liability on contracts entered into without authority or as conferring any right to indemnity in respect of that liability.

(3) This section shall apply whether the receiver or manager was appointed before or after the commencement* of the Com- panies (Amendment) Ordinance 1984 but subsection (2) shall not apply to contracts entered into before the commencement of that Ordinance.

( Added, 6 of 1984, s. 210)

299. (1) Where a receiver or manager of the property of a company has been appointed, every invoice, order for goods or business letter issued by or on behalf of the company or the receiver or manager or the liquidator of the company, being a document on or in which the name of the company appears, shall contain a statement that a receiver or manager has been appointed.

(2) If default is made in complying with the requirements of this section, the company and any of the following persons who knowingly and wilfully authorizes or permits the default, namely, any officer of the company, any liquidator of the company and any receiver or manager, shall be liable to a fine of $5,000. (Replace, 6 of 1984, s. 211)

300. (1) The court may, on an application made to the court by the liquidator of a company, by order fix the amount to be paid by way of remuneration to any person who, under the powers con- tained in any instrument, has been appointed as receiver or manager of the property of the company, and may from time to time, on an application made either by the liquidator, or by the receiver or manager, vary or amend any order so made.

(2) The power of the court under subsection (1) shall, where no previous order has been made with respect thereto under that subsection,

(a) extend to fixing the remuneration for any period before the

making of the order or the application therefor; and

(b) be exercisable notwithstanding that the receiver or man- ager has died or ceased to act before the making of the order or the application therefor; and

(c) where the receiver or manager has been paid or has retained for his remuneration for any period before the making of the order any amount in excess of that so fixed for that period, extend to requiring him or his personal representatives to account for the excess or such part thereof as may be specified in the order:

Provided that the power conferred by paragraph (c) shall not be exercised as respects any period before the making of the application for the order unless in the opinion of the court there are special circumstances making it proper for the power to be so exercised. (Added, 6 of 1984, s. 212)

16 of 1984.) [*31.8.84.]

Notification

that receiver

or manager appointed.

1929 c. 23, s. 308.

Power of

court to fix

remuneration on application of liquidator.

1929 c. 23, s. 309.

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