1964_COMPANIES_ORDINANCE — Page 89

1984 Ed.}

Companies

[CAP. 32

199

(ii) the shares in respect of which he is a contributory, or some of them, either were originally allotted to him or have been held by him, and registered in his name, for at least 6 months during the 18 months before the commencement of the winding up, or have devolved on him through the death of a former holder; and

(b) [Deleted, 6 of 1984, s. 131]

(c) the court shall not give a hearing to a winding-up petition presented by contingent or prospective creditor until such security for costs has been given as the court thinks reasonable and until a prima facie case for winding up has been established to the satisfaction of the court; and

(d) in a case falling within section 147(2)(a), a winding-up petition may be presented by the Financial Secretary; and (Added, 6 of 1984, s. 131)

(e) in a case referred to in section 177(1)(c) or (2), a winding-up petition may be presented by the Registrar. (Added, 6 of 1984, s. 131)

(2) Where a company is being wound up voluntarily, a winding-up petition may be presented by the Official Receiver as well as by any other person authorized in that behalf under the other provisions of this section, but the court shall not make a winding-up order on the petition unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories. (Amended, 6 of 1984, s. 131)

(3) [Deleted, 6 of 1984, s. 131]

179A. On the hearing of a winding-up petition by the court, the Official Receiver may appear and call, examine and cross-examine any witness and, if he so thinks fit, support or oppose the making of a winding-up order.

(Added, 69 of 1979, s. 4)

180. (1) On hearing a winding-up petition the court may dismiss it, or adjourn the hearing conditionally or unconditionally, or make any interim order, or any other order that it thinks fit, but the court shall not refuse to make a winding-up order on the ground only that the assets of the company have been mortgaged to an amount equal to or in excess of those assets, or that the company has no assets.

(1A) Where the petition is presented by members of the company as contributories on the ground that it is just and equitable that the company should be wound up, the court shall not refuse to make a winding-up order on the ground only that some other remedy is available to the petitioners unless it is also of opinion that they are acting unreasonably in seeking to have the company wound up instead of pursuing that other remedy. (Added, 51 of 1978, s. 7)

Appearance of Official Receiver.

Powers of court on hearing petition.

1929 c. 23. s. 171.