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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Circumstances in which com- pany may be wound up by court. Definition of in- ability to pay debts. Provisions as to applications for winding up. 654 SECRETARIAL PRACTICE Cases in which Company may be wound up by Court. 168. A company may be wound up by the court if— (1) the company has by special resolution resolved that the company be wound up by the court: default is made in delivering the statutory report to the registrar or in holding the statutory meeting: the company does not commence its business within a year from its incorporation, or suspends its business for a whole year: the number of members is reduced, in the case of a private company, below two, or, in the case of any other company, below seven: (5) the company is unable to pay its debts: (6) the court is of opinion that it is just and equitable that the company should be wound up. 169. A company shall be deemed to be unable to pay its debts— (1) if a creditor, by assignment or otherwise, to whom the company is indebted in a sum exceeding fifty pounds then due, has served on the company, by leaving it at the regis- tered office of the company, a demand under his hand requiring the company to pay the sum so due, and the company has for three weeks thereafter neglected to pay the sum, or to secure or compound for it to the reasonable satisfaction of the creditor; or if, in England or Northern Ireland, execution or other process issued on a judgment, decree or order of any court in favour of a creditor of the company is returned un- satisfied in whole or in part; or if, in Scotland, the inducie of a charge for payment on an extract decree, or an extract registered bond, or an extract registered protest have expired without payment being made; or if it is proved to the satisfaction of the court that the com- pany is unable to pay its debts, and, in determining whether a company is unable to pay its debts, the court shall take into account the contingent and prospective liabilities of the company. Petition for Winding Up and Effects thereof. ~ 170.—(1) An application to the court for the winding up of a company shall be by petition, presented subject to the provisions of this section either by the company, or by any creditor or creditors (including any contingent or prospective creditor or creditors), contributory or contributories, or by all or any of those parties, together or separately:

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