Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XX. Winding up

Collection:: Economics Books

WINDING UP 22% at the registered office of the company, a demand under his hand requiring the company to pay the sum so due, and the company has for three weeks thereafter neglected to pay the sum, or to secure or compound for it to the reasonable satisfaction of the creditor; or if, in England or Northern Ireland, execution or other process issued on a judgment decree or order of any Court in favour of a creditor of the company is returned unsatisfied in whole or in part; or (iii) if, in Scotland, the inducie 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; or if it is proved to the satisfaction of the Court that the company is unable to pay its debts, and, in determining whether a company is unable to pay its debts, the Court shall take into account the contingent and prospective liabilities of the company. A petition may, subject to certain restrictions (see s. 170), be presented by the company itself, by one or more creditors, or by one or more shareholders, or by all or any of those parties, together or separately, or if the company is already being wound up voluntarily by the Official Receiver. If the cround of the petition is default in delivering the statutory report to the Registrar, or holding the statutory meeting, the Court may direct the default to be made good instead of making a winding-up order [s. 171 (2)]. Upon an order for winding up being made, the proceedings in the liquidation are conducted temporarily by the Official Receiver, as pro- visional liquidator, and subsequently by one or more liquida- tors appointed by the Court, or if no liquidator is so appointed, by the Official Receiver as liquidator [s. 185] a copy of the winding-up order must be sent forthwith to the Registrar 's. 176]. A corporation cannot be appointed liquidato~ 's. 2781. The commencement of the winding up (a date of con- siderable importance) is deemed to be (1) if the company is not already in voluntary liquidation, the date of the presen- tation of the petition [s. 175 (2)], and (2) if it is already in voluntary liquidation, the date of the passing of the resolution for winding up, the order being thus retrospective. Under the Act of 1908, the date of presentation of the petition was always the commencement of the winding up, and this fact had sometimes unfortunate consequences where compulsory Presentation of Petition. Commence- ment of Winding up.

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