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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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XX. Winding up

Collection:: Economics Books

234 SECRETARIAL PRACTICE and every officer of the company in default (including the liquidator) will be liable to a penalty [s. 226]. Members’ In a members’ voluntary winding up the liquidator will be Voluntary appointed by the company in general meeting [s. 232 (1)]. Winding UP. The appointment will usually be made at the meeting which resolves on the winding up. The appointment need not be made by special resolution, and the notice need not name the liquidator, though it must give notice of the intention to appoint a liquidator. Although more than one liquidator may be appointed in the case of a members’ voluntary winding up, this seems unnecessary, as a rule involves extra expense and may lead to difficulties if one liquidator dies [see s. 248 (3)]. Accordingly the usual course in a members’ voluntary liquidation will probably be to appoint a soleliquida- tor. As will be seen hereafter in a creditors’ voluntary liquidation only one liquidator can be appointed except by the Court. On the appointment of a liquidator the powers of the directors cease except so far as the exercise thereof is sanctioned by the company in general meeting or the liquida- tor [s. 232 (2)]. It is sometimes convenient to give this sanction, e.g. when it is desired to make a call. Any vacancy in the office of liquidator will, subject to any arrangement with creditors, be filled by the company in general meeting at a meeting convened by any contributory or by the continuing liquidator if such there be [s. 233]. No creditors’ meeting will be called in a members’ voluntary liquidation. Creditors’ In a creditors’ voluntary winding up, ¢.e. if no declaration of Voluntary solvency has been made and lodged with the Registrar Winding Up. pursuant to s. 230 the company must summon a meeting of creditors to be held at the place most convenient to the majority of the creditors [see R. 129 of the Companies (Wind- ing-up) Rules, 1929], on the same day as, or on the day after the day on which the meeting of the company to pass the resolution for winding up is to be held [s. 238]. The pro- visions of this section may be summarised as follows: — (1) The notices to the creditors must be posted simultane- ously with the notices to the members. General and special forms of proxy must be sent with the notices [R. 146 of the Companies (Winding-up) Rules, 1929]. The notice of the creditors’ meeting should be sent to the last known address of each creditor and must be advertised once in the Gazette, and at least once in two local newspapers circulating in the district where either the registered office or the principal place of business is situate. The Act does not state when the advertise- ments must be inserted. but having regard to R. 127 of J

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