Secretarial practice

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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

WINDING UP 241 by statute upon the liquidator, but it will be found that incidentally the wide powers expressly specified by the legislature include numerous minor auxiliary powers. A liquidator should enter upon his duties at the earliest His Duties. possible moment after his appointment. His primary duties are realisation and distribution of assets, and all that he does will be directed towards these two ends. One of his earliest duties is prescribed by s. 250 of the Act. By s. 250 he is bound, under a penalty of £5 per day, within twenty-one days of his appointment to deliver a notice thereof to the Registrar in the form prescribed by the Board of Trade; and, as already mentioned, he must see that the winding up resolution has been duly advertised in accordance with s. 226. The liquidator, after his appointment, will immediately proceed to take possession of the company’s books and documents. If he is the secretary, he will, probably, have no difficulty in doing this, as, so far as the books kept at the registered office of the company are concerned, they will he ready to hand, whilst, if the company is a trading com- pany, the ordinary business books will be available at the place where the company’s business has actually been carried on. If the liquidator is unconnected with the com- pany, e.g. a chartered accountant, his labour in ascertaining that he has control of all the books and documents of the company, whether at the registered office or elsewhere, will usually be greater. It is the duty of the liquidator, if he finds any book or document missing, to ascertain its where- abouts, or, if he fails to discover books or documents that he would expect to find, to make inquiries and satisfy himself as to their existence or non-existence. Practically all of the company’s books will be of assistance to the liquidator in the discharge of his duties. For example, the Seal Book, if one be kept, should contain particulars of documents to which the common seal has been attached, and will be of use in enabling the liquidator to ascertain what documents of importance are in existence. [n taking possession of the books and documents of the company, the liquidator may find that some are in the possession of a solicitor or other person who claims a lien upon them for money due. The liquidator will then proceed to inquire whether this lien is valid. If it is obviously in- valid, e.g. if it is upon certain books which are, by statute, required to be kept at the registered office of the company— the Register of Members, for instance—the liquidator must insist upon the delivery up to him of the books or documents in question. If the validity of the lien be doubtful, and no Taking Possession of Property

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