363

SECRETARIAL PRACTICE
every person who was a member of the company at the
date of the registration of the order for reduction and
minute, shall be liable to contribute for the payment of
that debt or claim an amount not exceeding the amount
which he would have been liable to contribute if the com-
pany had commenced to be wound up on the day before
the said date; and
if the company is wound up, the court, on the application
of any such creditor and proof of his ignorance as aforesaid,
may, if it thinks fit, settle accordingly a list of persons so
liable to contribute, and make and enforce calls and orders
on the contributories settled on the list, as if they were
ordinary contributories in a winding up.

(2) Nothing in this section shall affect the rights of the con-

tributories among themselves.
Penalty on cons 60. If any director, manager, secretary or other officer of the
name of creditor, COMPpany—
(1) wilfully conceals the name of any creditor entitled to
object to the reduction; or
2) wilfully misrepresents the nature or amount of the debt
or claim of any creditor; or
(3) aids, abets or is privy to any such concealment or mis-
representation as aforesaid,
he shall be guilty of a misdemeanour.

Variation of Shareholders’ Righis.

Rights of holders
of special classes
of shares.

61.—(1) If in the case of a company, the share capital of which
is divided into different classes of shares, provision is made by the
memorandum or articles for authorising the variation of the rights
attached to any class of shares in the company, subject to the
consent of any specified proportion of the holders of the issued
shares of that class or the sanction of a resolution passed at a separate
meeting of the holders of those shares, and in pursuance of the
said provision the rights attached to any such class of shares are
at any time varied, the holders of not less in the aggregate than
fifteen per cent. of the issued shares of that class, being persons
who did not consent to or vote in favour of the resolution for the
variation, may apply to the court to have the variation cancelled,
and, where any such application is made, the variation shall not have
effect unless and until it is confirmed by the court.

(2) An application under this section must be made within
seven days after the date on which the consent was given or the
resolution was passed, as the case may be, and may be made on
behalf of the shareholders entitled to make the application by such
one or more of their number as they may appoint in writing for the
purpose.