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

256 SECRETARIAL PRACTICE Periodical Returns. shareholders ‘an account of his acts and dealings, and of the conduct of the winding up during the preceding year.” In the case of a creditors’ winding up an annual meeting of creditors must also be called for the same purpose (s. 244). Under Rule 125 (2) the liquidator in a creditors’ voluntary’ winding up may from time to time summon, hold and conduct meetings of creditors for the purpose of ascertaining their wishes in all matters relating to the winding up. In addition to the meetings already mentioned, which are summoned by the liquidator, the Court may, by virtue of ss. 288 and 252 of the Act, direct meetings of creditors or contributories to be sum- moned, with the object of ascertaining their wishes in any matter. Any resolution passed at any adjourned meeting is to be treated as having been passed on the date on which it was actually passed and not on the date of the original meeting [s. 287, and see p. 140]. The rules regulating the summoning and conduct of the above-mentioned creditors’ meetings are contained in Rules 126 to 143 of the Winding-up Rules of 1929, and provisions in regard to proxies at meetings of creditors in a creditors’ voluntary winding up are contained in Rules 144 to 154. The liquidator is bound, by s. 284, in all cases where the liquidation is not concluded within a year, to send periodical statements to the Registrar of Joint Stock Companies in the form presented by the Board of Trade. If, it appears, from any such statement or otherwise that the liquidator has in his hands or under his control any unclaimed or undistributed assets, which have remained unclaimed or undistributed for more than six months, he must pay the same forthwith into the companies liquidation account (s. 285). Directions as to the dates on which, and the method in which, that payment is to be made are contained in Rule 196 of the Companies (Wind- ing-up) Rules, 1929. By Rule 197 a liquidator is bound to furnish to the Board of Trade particulars of any money in his hands, or under his control, representing unclaimed or undis- tributed assets, and any other particulars which the Board of Trade may require for the purpose of ascertaining and getting in any money payable into the companies liquidation account. This rule applies whether the liquidation has been concluded or not. By Rule 198, the Board of Trade may order an account of the sums received and paid by the liquidator and may enforce an audit of the account. As to the investment at the request of the committee of inspection or liquidator of funds standing to the credit of a company in the companies liquidation account, see s. 302 and Rule 171 of the Companies (Winding-up) Rules 1929.

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