1984 Ed.]
Companies
[CAP. 32
165
(3) Where the Official Receiver or the Financial Secretary intends to make an application under this section in respect of any person, he shall give not less than 10 days' notice of his intention to that person, and on the hearing of the application that person may appear and himself give evidence or call witnesses.
(4) On the hearing of an application under this section by the Official Receiver or the Financial Secretary, or of an application for leave under this section by a person in respect of whom an order has been made on the application of the Official Receiver or the Financial Secretary, the Official Receiver or the Financial Secretary shall appear and call the attention of the court to any matters which seem to him to be relevant and may himself give evidence or call witnesses.
(5) If any person acts in contravention of an order made under subsection (1) he shall in respect of each offence be liable
(a) on conviction upon indictment to a fine of $50,000 and to imprisonment for 2 years;
(b) on summary conviction to a fine of $10,000 and to imprisonment for 6 months.
(6) The Financial Secretary may require the liquidator or former liquidator of any company-
(a) to furnish him with such information with respect to the company's affairs; and
(b) to produce and permit inspection of such books or documents of or relevant to the company,
as the Financial Secretary may reasonably require for the purpose of determining whether to make an application under this section in respect of any person who is or has been a director of that company; and if a person makes default in complying with any such requirement the court may, on the application of the Financial Secretary, make an order requiring that person to make good the default within such time as may be specified.
(7) In this section-
"company" includes an unregistered company (wherever incorporated) within the meaning of Part X;
"director", in relation to a company, includes any person in accordance with whose directions or instructions the directors of the company have been accustomed to act,
and for the purposes of this section a company goes into liquidation, if it is wound up by the court, on the date of the winding-up order and, in any other case, on the date of the passing of the resolution for voluntary winding up.
(8) Subsection (1) does not apply unless at least one of the companies there mentioned has gone into liquidation after the date of commencement* of the Companies (Amendment) Ordinance
(6 of 1984.) [*31.8.84.]
Page 55
Page 56
1984 Ed.]
Companies
[CAP. 32
165
(3) Where the Official Receiver or the Financial Secretary intends to make an application under this section in respect of any person, he shall give not less than 10 days` notice of his intention to that person, and on the hearing of the application that person may appear and himself give evidence or call witnesses.
(4) On the hearing of an application under this section by the Official Receiver or the Financial Secretary, or of an application for leave under this section by a person in respect of whom an order has been made on the application of the Official Receiver or the Financial Secretary, the Official Receiver or the Financial Secretary shall appear and call the attention of the court to any matters which seem to him to be relevant and may himself give evidence or call witnesses.
(5) If any person acts in contravention of an order made under subsection (1) he shall in respect of each offence be liable
(a) on conviction upon indictment to a fine of $50,000 and to
imprisonment for 2 years;
(b) on summary conviction to a fine of $10,000 and to
imprisonment for 6 months.
(6) The Financial Secretary may require the liquidator or former liquidator of any company-
(a) to furnish him with such information with respect to the
company's affairs; and
(b) to produce and permit inspection of such books or
documents of or relevant to the company,
as the Financial Secretary may reasonably require for the purpose of determining whether to make an application under this section in respect of any person who is or has been a director of that company; and if a person makes default in complying with any such require- ment the court may, on the application of the Financial Secretary, make an order requiring that person to make good the default within such time as may be specified.
(7) In this section-
"company" includes an unregistered company (wherever in-
corporated) within the meaning of Part X;
"director", in relation to a company, includes any person in accordance with whose directions or instructions the directors of the company have been accustomed to act,
and for the purposes of this section a company goes into liquidation, if it is wound up by the court, on the date of the winding-up order and, in any other case, on the date of the passing of the resolution for voluntary winding up.
(8) Subsection (1) does not apply unless at least one of the companies there mentioned has gone into liquidation after the date of commencement* of the Companies (Amendment) Ordinance
(6 of 1984.) [*31.8.84.]
Page 55Page 56
No comments yet.
Private notes are available after approval.