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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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