Full text: Secretarial practice

COMPANIES ACT, 109029 
709 
being to answer demands in respect of that company’s estate, the 
Board shall, on the request of the committee, invest the amount 
not so required in Government securities, to be placed to the credit 
of the said account for the benefit of the company. 
(2) When any part of the money so invested is, in the opinion 
of the committee of inspection, required to answer any demands in 
respect of the estate of the company, the Board of Trade shall, on 
the request of the committee, raise such sum as may be required 
by the sale of such part of the said securities as may be necessary. 
(3) The dividends on investments under this section shall be 
paid to the credit of the company. 
(4) When the balance at the credit of any company’s account 
n the hands of the Board of Trade exceeds two thousand pounds, 
and the liquidator gives notice to the Board that the excess is not 
required for the purposes of the liquidation, the company shall be 
entitled to interest on the excess at the rate of two per cent. per 
annum. 
Officers. 
303.—(1) The Board of Trade may, with the approval of the Officers and 
Treasury, appoint such additional officers as may be required by remuneration. 
the Board for the execution as respects England of this Part of this 
Act, and may remove any person so appointed. 
(2) The Board of Trade, with the concurrence of the Treasury, 
shall direct whether any and what remuneration is to be allowed 
to any officer of, or person attached to, the Board performing any 
duties under this Part of this Act in relation to the winding up of 
companies in England, and may vary, increase, or diminish that 
remuneration as they think fit. 
304. The officers of the courts acting in the winding up of com 
panies in England shall make to the Board of Trade such returns 
of the business of their respective courts and offices, at such times, 
and in such manner and form, as may be prescribed, and from 
those returns the Board shall cause books to be prepared which 
shall, under the regulations of the Board, be open for public informa- 
tion and searches. 
Returns by 
officers in Eng- 
lish winding up. 
Rules and Fees. 
305.—(1) The Lord Chancellor may, with the concurrence of the General rules 
President of the Board of Trade, make general rules for carrying into es oy 
effect the objects of this Act so far as relates to the winding up of 
companies in England, and the Court of Session may by Act of 
Sederunt make general rules for carrying into effect the objects of 
this Act so far as relates to the winding up of companies in Scotland. 
(2) All rules made under this section shall be laid before Parlia- 
ment within three weeks after they are made, if Parliament is then 
sitting, and, if Parliament is not sitting, within three weeks after 
the beginning of the next session of Parliament, and shall be judicially 
noticed, and shall have effect as if enacted by this Act.
	        
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