722 
SECRETARIAL PRACTICE 
(¢) An unregistered company shall, for the purposes of this 
Act, be deemed to be unable to pay its debts: — 
(i) If a creditor, by assignment or otherwise, to whom 
the company is indebted in a sum exceeding fifty pounds 
then due, has served on the company, by leaving at its 
principal place of business, or by delivering to the 
secretary or some director, manager, or principal officet 
of the company, or by otherwise serving in such manne 
as the court may approve or direct, a demand under his 
hand requiring the company to pay the sum so due, 
and the company has for three weeks after the service 
of the demand neglected to pay the sum, or to secure o1 
compound for it to the satisfaction of the creditor; 
(ii) If any action or other proceeding has been in- 
stituted against any member for any debt or demand 
due, or claimed to be due, from the company, or from him 
in his character of member, and notice in writing of the 
institution of the action or proceeding having been 
served on the company by leaving the same at its prin- 
cipal place of business, or by delivering it to the secretary, 
or some director, manager, or principal officer of the 
company, or by otherwise serving the same in such manner 
as the court may approve or direct, the company has not 
within ten days after service of the notice paid, secured, 
or compounded for the debt or demand, or procured the 
action or proceeding to be stayed, or indemnified the 
defendant to his reasonable satisfaction against the 
action or proceeding, and against all costs, damages, 
and expenses to be incurred bv him by reason of the 
same; 
(iii) If in England or Northern Ireland execution or 
other process issued on a judgment, decree, or order 
obtained in any court in favour of a creditor against the 
company, or any member thereof as such, or any person 
authorised to be sued as nominal defendant on behali 
of the company, is returned unsatisfied; 
(iv) If in Scotland the induci® of a charge for payment 
on an extract decree, or an extract registered bond, or 
an extract registered protest, have expired without 
payment being made; 
(v) If it is otherwise proved to the satisfaction of the 
court that the company is unable to pay its debts: 
The court having jurisdiction to wind up a railway company 
under the Abandonment of Railways Act, 1850, and the 
Abandonment of Railways Act, 1869, and the Acts amend- 
ing them, shall be the High Court or the Court of Session, 
according as the railway was authorised to be made in 
England or Scotland, and the special provisions of those 
Acts shall apply to the winding up with the substitution of 
references to this Act for references to the Companies 
Acts, 1862 and 1867: 
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