Full text: Secretarial practice

340 
SECRETARIAL PRACTICE 
(b) a past director or manager shall not be liable to make 
such further contribution in respect of any debt or 
liability of the company contracted after he ceased to 
hold office: 
subject to the articles of the company, a director or 
manager shall not be liable to make such further contri- 
bution unless the court deems it necessary to require that 
contribution in order to satisfy the debts and liabilities 
of the company, and the costs, charges, and expenses of 
the winding up. 
(3) In the winding up of a company limited by guarantee 
which has a share capital, every member of the company shall be 
liable, in addition to the amount undertaken to be contributed by 
him to the assets of the company in the event of its being wound up, 
to contribute to the extent of any sums unpaid on any shares held by 
him. 
Definition of 
contributory. 
Nature of lia- 
bility of con- 
tributorv. 
Contributories 
in case of death 
of member. 
158. The term ‘‘contributory’’ means every person liable to 
contribute to the assets of a company in the event of its being wound 
1p, and for the purposes of all proceedings for determining, and all 
proceedings prior to the final determination of, the persons who are 
to be deemed contributories, includes any person alleged to be a 
contributory. 
159. The liability of a contributory shall create a debt (in Eng- 
and of the nature of a specialty) accruing due from him at the time 
when his liability commenced, but payable at the times when calls 
are made for enforcing the liability. 
160.—(1) If a contributory dies either before or after he has been 
placed on the list of contributories, his personal representatives, 
and the heirs and legatees of heritage of his heritable estate in 
Scotland, shall be liable in a due course of administration to contri- 
bute to the assets of the company in discharge of his liability and 
shall be contributories accordingly. 
(2) Where thé personal representatives are placed on the list of 
contributories, the heirs or legatees of heritage need not be added, 
but they may be added as and when the court thinks fit. 
(3) If in England the personal representatives make default in 
paying any money ordered to be paid by them, proceedings may be 
taken for administering the estate of the deceased contributory, and 
for compelling payment thereout of the money due. 
Contributories 161. If a contributory becomes bankrupt, either before or after 
prc of he has been placed on the list of contributories— 
member. (1) his trustee in bankruptcy shall represent him for all the 
purposes of the winding-up, and shall be a contributory 
accordingly, and may be called on to admit to proof against 
the estate of the bankrupt, or otherwise to allow to be paid
	        
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