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

236 SECRETARIAL PRACTICE with express sanction. The sanction required is that of the committee of inspection, or if there be no committee, that of the creditors instead of the sanction of the company in general meeting or the liquidator [s. 241 (2)]. Committee of A committee of inspection can be appointed either at the Sapesiion In creditors’ meeting convened pursuant to s. 238, or at any reditors’ . . : X Winding Up. Subsequent meeting of the creditors. If the creditors appoint a committee of inspection, the company may appoint not more than five persons to act as members of such com- mittee, either at the meeting at which the resolution for winding up is passed, or at any subsequent general meeting; but the creditors may resolve that all or any of the members of the committee appointed by the company ought not to be members thereof, and if the creditors do so resolve, the persons mentioned in the resolution will, unless the Court otherwise directs, be disqualified from acting as members of the com- mittee [s. 240]. It is possible that a member thus dis- qualified can be replaced by another representative under the provisions of s. 199 (see below); but it is doubtful whether this is so, as the section enables the Court on any application under the section itself to appoint other persons to act as members of the committee in place of the disqualified members. Subject as above and subject to the Winding-up Rules, the provisions of ss. 19g (except sub s. (1)) and 201 of the Act (which sections deal with committees of inspection in a winding up by the Court) apply to a committee of inspection appointed in a voluntary winding up. Under these sections the Committee will meet at such times as they from time to time appoint, and, failing such appointment, must meet at least once a month. The liquidator, or any member of the committee can at any time call a special meeting. The Committee act by a majority, but a majority must be present to constitute a quorum. Any member of the Committee may resign, and he will automatically vacate office if he becomes bankrupt, makes an arrangement with his creditors or is absent from five consecutive meetings without the leave of those members of the committee, who, together with himself, represent the creditors or contributories. A creditors’ representative may be removed by a meeting of the creditors and a company’s representative by an extraordinary resolution of the company in general meeting. Any vacancy among the creditors’ representatives can be filled by the creditors, and any vacancy among the company’s representa- tives can be filled by the company in general meeting; and it is the duty of the liquidator forthwith to convene the necessary meeting on a vacancy occurring. If the committee falls

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