Companies (Winding Up) Rules
Table of Contents
1 Citation
2 Application of Rules
2 Definitions
3 Use of forms
COURT AND CHAMBERS
4 Office of Registrar
5 Matters to be heard in Court and Chambers
6 Applications in Chambers
7 Motions and summonses
PROCEEDINGS
8 Title of proceedings
9 Written or printed proceedings
10 Process to be sealed
11 Issue of petition, etc.
ORDERS
12 Orders
13 File of proceedings in office of Registrar
14 Office copies
15 Use of file by Official Receiver
16 Defacement of stamps
17 Service of petition, notice of motion and summons
18 Mode of service
19 Publication in the Gazette
20 Memorandum of advertisements to be filed
21 Enforcement of judgments or orders
PETITIONS
22 Form of petition
23 Presentation of petition
24 Advertisement of petition
25 Service of petition
26 Verification of petition
27 Copy of petition to be furnished to creditor or contributory
HEARING OF PETITIONS AND ORDERS
28 Notice of intention to appear
29 List of persons intending to appear
30 Affidavits opposing the petition and affidavits in reply
31 Approved liquidator to be nominated
32 Attendance on the Registrar
33 Substitution of any person as petitioner
34 Notice of winding up order
35 Order appointing provisional liquidator
LIQUIDATOR’S REPORTS
36 Report of liquidator
37 Reports of liquidator to be filed in Court
38 Consideration of further report
SPECIAL MANAGER
39 Appointment of special manager
40 Accounting by special manager
STATEMENT OF AFFAIRS
41 Preparation of statement of affairs
42 Extension of time for submitting statement of affairs
43 Information subsequent to statement of affairs
44 Default
45 As to costs of preparing statement of affairs
APPOINTMENT OF LIQUIDATOR IN A WINDING UP BY THE COURT
46 Appointment of liquidator on report of meetings of creditors and contributories
SECURITY BY LIQUIDATOR IN A WINDING UP BY THE COURT
47 Provisions as to security
48 Failure to give or keep up security
EXAMINATIONS
49 Application for examination under section 285 of Act
50 Application for public examination under section 286 of Act
51 Application for examination under section 313 of Act
52 Attendance of liquidator or Official Receiver under section 285 of Act
53 Application for appointment
54 Notice of appointment to creditors and contributories
55 Examinations under section 285 or 286 of Act
56 Shorthand notes of examination
57 Filing of notes of deposition
58 Failure to attend or abscording warrant for arrest
DISCLAIMER
59 Disclaimer
VESTING OF DISCLAIMED PROPERTY
60 Vesting of disclaimed property
ARRANGEMENT WITH CREDITORS AND CONTRIBUTORIES IN A WINDING UP BY THE COURT
61 Report by liquidator on arrangements and compromises
62 Production of documents for settling order
COLLECTION AND DISTRIBUTION OF ASSETS IN A WINDING UP BY THE COURT
63 Collection and distribution of company’s assets by liquidator
64 Power of liquidator to require delivery of property
LIST OF CONTRIBUTORIES IN A WINDING UP BY THE COURT
65 Liquidator to settle list of contributories
66 Contributories listed may attend proceedings
67 List of contributories
68 Appointment of time and place for settlement of list
69 Settlement of list of contributories
70 Notice to contributories
71 Application to the Court to vary list
72 Variation of or addition to list of contributories
CALLS
73 Calls by liquidator
74 Application to the Court for leave to make a call
75 Document making call
76 Service of notice of call
77 Enforcement of call
PROOFS
78 Proof of debt
79 Mode of proof
80 Verification of proof
81 Contents of proofs
82 Statement of security
83 Proof before whom sworn
84 Costs of proof
85 Discounts
86 Periodical payments
87 Interest
88 Proof for debt payable at a future time
89 Workmen’s wages
90 Production of bills of exchange and promissory notes
ADMISSION AND REJECTION OF PROOFS AND APPEAL TO THE COURT
91 Notice to creditors to prove
92 Examination of proof
93 Appeal by creditor
94 Expunging at instance of liquidator
95 Expunging at instance of creditor
96 Oaths
97 Procedure where creditor appeals
98 Time for dealing with proofs
99 Creditors’ proof which has been admitted
100 Costs of appeal against rejection
DIVIDENDS
101 Dividends to creditors
102 Return of capital to contributories
PAYMENTS INTO AND OUT OF COMPANIES LIQUIDATION ACCOUNT
103 Remittances to Companies Liquidation Account
104 Mode of payments out of Companies Liquidation Account
105 Court may give directions
GENERAL MEETINGS OF CREDITORS AND CONTRIBUTORIES IN RELATION TO A WINDING UP BY THE COURT
106 First meetings of creditors and contributories
107 Notice of first meetings
108 Summoning of first meetings
109 Form of notices of first meetings
110 Notice of first meetings to officers of the company
111 Summary of statement of affairs
112 Liquidator’s meetings of creditors and contributories
113 Application of rules as to meetings
114 Summoning of meetings
115 Proof of notice
116 Place of meetings
117 Costs of calling meeting
118 Chairman of meeting
119 Ordinary resolution of creditors and contributories
120 Copy of resolution to be filed
121 Non-reception of notice by a creditor
122 Adjournment
123 Quorum
124 Creditors entitled to vote
125 Cases in which creditors may not vote
126 Votes of secured creditors
127 Creditor required to give up security
128 Admission and rejection of proofs for purpose of voting
129 Statement of security
130 Minutes of meeting
PROXIES IN RELATION TO A WINDING UP BY THE COURT, AND TO A CREDITORS’ VOLUNTARY WINDING UP
131 Proxies
132 Form of proxies
133 Forms of proxy to be sent with notices
134 General proxies to managers or clerks
135 Special proxies
136 Solicitation by liquidator to obtain proxies
137 Proxies to liquidator
138 Holder of proxy not to vote on matter in which he is financially interested
139 Proxies
140 Use of proxies by deputy
141 Filling in where creditor blind or incapable
LIQUIDATOR AND COMMITTEE OF INSPECTION
142 Remuneration of liquidator
143 Limit of remuneration
144 Dealings with assets
145 Restriction on purchase of goods by liquidator
146 Committee of inspection not to make profit
147 Cost of obtaining sanction of Court
148 Sanction of payments to committee
RELEASE OR RESIGNATION OF LIQUIDATOR
149 Notice of liquidator’s intention to apply for release
150 Meetings of creditors and contributories to consider resignation of liquidator
151 Office of liquidator vacated by his insolvency
152 Proceedings on resignation, etc., of liquidator
SPECIAL BANK ACCOUNT FOR LIQUIDATOR
153 Application for special bank account
154 Payments into and out of bank
BOOKS
155 Record book
156 Cash book
INVESTMENT OF FUNDS
157 Investment of assets in securities and realisation of securities
ACCOUNTS AND AUDIT IN A WINDING UP BY THE COURT
158 Audit of Cash Book
159 Liquidator’s accounts
160 Liquidator carrying on business
161 Liquidator’s trading account
162 Expenses of sales
TRANSFERS OF ACTIONS AND PROCEEDINGS
163 Judge may order transfer of pending actions to himself
164 Powers of Court
TAXATION OF COSTS
165 Taxation of costs payable by liquidator
166 Notice of appointment to tax
167 Copy of bill of costs to be furnished to liquidator
168 Attendance at taxation
169 Certificate of taxation
170 Certificate as to special terms of remuneration, etc.
171 Liquidator’s charges
172 Application for costs
173 Costs
174 Costs ordered by Court or Judge to be paid by company
ATTENDANCE OF LIQUIDATOR
175 Attendance of liquidator
STATEMENTS BY LIQUIDATOR TO THE REGISTRAR OF COMPANIES AND OFFICIAL RECEIVER
176 Conclusion of voluntary winding up deemed to be date of dissolution of company
177 Time for lodging account and statement under section 317 of Act
178 Form of liquidator’s account and statement
UNCLAIMED FUNDS AND UNDISTRIBUTED ASSETS IN THE HANDS OF A LIQUIDATOR, OTHER THAN THE OFFICIAL RECEIVER
179 Investments representing unclaimed funds
180 Liquidator to furnish information to Official Receiver
181 Official Receiver may call for verified accounts
182 Application for payment out by person entitled
183 Application by liquidator for payment out
OFFICIAL RECEIVER
184 Appointment
185 Removal
186 Assistants
187 Duties where no assets
188 Official Receiver to act for committee of inspection where there is no committee of inspection
189 Appeals from Official Receiver
MISCELLANEOUS MATTERS
190 Enlargement or abridgment of time
191 Formal defect not to invalidate proceedings
192 Fees
Legislative History