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

Dissolution. 268 SECRETARIAL PRACTICE resolution how the books and papers of the company and of the liquidator are to be disposed of. At the meeting or meetings, the liquidator will lay his account before the shareholders or the shareholders and the creditors as the case may be, and should have ready for inspection, if required, the books and other documents from which it is compiled. His record book, or diary, should also be before him for reference if necessary. He will, in general, explain in such detail as he considers necessary, the steps which have been taken in the liquidation, drawing attention to any matters of more than ordinary importance, and will answer such questions or give such explanations as the share- holders or creditors may ask or require. It is not necessary for the meeting to pass any resolution adopting the liquidator’s account, although this is sometimes done, but the question of the disposal of the books must be dealt with by resolution. Frequently it is resolved to destroy the books, but, seeing that the dissolution of the company does not take place for three months from the registration of the liquidator’s return as to the holding of the meeting, it is obviously inadvisable, and even improper, to authorise the immediate destruction of the books. Indeed, in view of s. 294, they should be preserved for two years. Where destruction is resolved upon, the resolution should authorise the liquidator to retain the books until two years from the dissolution of the company and then to destroy them. Ifit is inadvisable for any reason to destroy the books, the liquidator, or any one else, may be required to keep them for a stated period. Or, if the business of the company has been sold as a going concern, the meeting may resolve that the trading books of the company be handed over to the pur- chaser, and the remainder destroyed or retained for a time. It lies with the meeting entirely to determine the fate of the books and papers of the company and the liquidator, but in most cases it will be guided by the liquidator in deciding apon the desirability or otherwise of retaining them. There is no responsibility on any one for the custody of the books after five years from dissolution [s. 283]. Within one week after the meeting or meetings, or if the meetings of members and creditors respectively are held on different dates, within one week after the later of such meetings, the liquidator must send to the Registrar a copy of the account laid before the meeting and make a return to the Registrar of the holding of the meeting and of the date on which it was held or, if a quorum was not present at either meeting, a return that such meeting was duly summoned and that no quorum was present. The quorum at a shareholders’ meeting will depend on the

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