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 26% and the property of the company disposed of,’ it appears to be necessary that considerable detail should be shown. Or, if the transactions are summarised, reference should be made to the books or documents whence the summaries are derived. The account being prepared, the next step is to convene a general meeting of the company, and also in the case of a creditors’ voluntary winding up a meeting of creditors. Ss. 236 and 245 require the meetings to be summoned by advertisement. The advertisement is to be published in the Gazette one month, i.e. one calendar month, at least, before the day fixed for the meeting. But even although no extra- ordinary resolution of the kind to be mentioned presently is required to be passed, few liquidators will be content merely with the notice by advertisement in the Gazette, but will send notices to the shareholders in the manner prescribed by the articles, and also in the case of a creditors’ winding up, to the creditors known to him at their last-known addresses. An advertisement in the Gazette only might result in no one being present at the meeting except the liquidator, or at all events, no quorum of shareholders or creditors, as the case may be. However, if the sole business of the meeting is that specified in ss. 236 and 245 as the case may be, there is no legal obligation to give any notices other than the advertise- ment, and the lack of a quorum at the final meeting will not interfere with the dissolution. But in the great majority of cases, unless there is a committee of inspection, advantage will be taken by the liquidator of the provisions of s. 283 of the Act as to disposing of the company’s books. This section em- powers a company which has been wound up voluntarily, and 1s about to be dissolved, to dispose of the books in the case of a members’ voluntary winding up in such way as the company by extraordinary resolution directs, and in the case of a creditors’ voluntary winding up in such way as the committee of inspection, or if there is none, as the creditors may direct. And, since in the case of a members’ voluntary winding up an extraordinary resolution is necessary for the purpose, notice of the intention to propose such resolution must, by s. 117 be duly given to all the members. A single notice will suffice for both purposes: it will intimate to the share- holders that the meeting is to be held for the purpose of having the liquidator’s account laid before them, showing the manner in which the winding up has been conducted and the property of the company disposed of, and of hearing any explanation that may be given by the liquidator, and also for the purpose of determining by extraordinary

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