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East, 256, 2 Camp. 166. Alderson v. Temple, 4
On comparing the sections first mentioned in Rent.
In concluding this Chapter, attention must be Parties to drawn to the following portion of section 82,"Every order which may be made on any such petition (for winding up), shall operate in favour of all the creditors and all the contributories of the Company in the same manner as if it had been made upon the joint petition of a creditor and a contributory." On whosesoever petition therefore the order to wind up is made, both the
classes above mentioned become parties to the proceedings and are bound thereby.
The provisions of section 84, viz., "A winding up by the Court shall be deemed to commence at the time of the presentation of the petition for winding up," must be remembered in questions arising on the preceding sections.
PROCEEDINGS UPON THE ORDER TO WIND UP.
By sects. 84 and 85, and rule 6, it is provided as follows:
Sect. 84. A winding up of a Company by the Court shall Commencebe deemed to commence at the time of the presentation of ment of the petition for the winding up.
winding up by Court. 88. When an order has been made for winding up a Copy of Company under this Act, a copy of such order shall forth- order to be with be forwarded by the Company to the registrar of joint registrar. stock companies, who shall make a minute thereof in his books relating to the Company.
Rule 6. Every order for the winding up of a Company by the Court, or subject to its supervision, shall, within twelve days after the date thereof, be advertised by the petitioner once in the "London Gazette," and shall be served upon such persons (if any) and in such manner as the Court may direct.
The first of the above mentioned sections is important on the matters treated of in the last Chapter and on all questions on the subsequent winding up of a Company.
Under section 88, a copy of the order is to be forwarded to the Registrar of Joint Stock Companies.
Rule 6 requires the order to be advertised in the London Gazette within twelve days after the date thereof, but where the twelve days had been allowed to elapse in error the Court has per
Court may have regard
to wishes of creditors or
mitted the order to be post dated to enable it to be properly advertised.
The form of the advertisement will be found in Appendix.
The Court has power to direct that meetings of the creditors or contributories of the Company shall be called so as to ascertain their wishes on any particular matter,
Sect. 91. The Court may, as to all matters relating to the winding up, have regard to the wishes of the creditors or contributories, as proved to it by any sufficient evidence, and may, if it thinks it expedient, direct meetings of the creditors or contributories to be summoned, held, and conducted in such manner as the Court directs, for the purpose of ascertaining their wishes, and may appoint a person to act as chairman of any such meeting, and to report the result of such meeting to the Court: In the case of creditors, regard is to be had to the value of the debts due to each creditor, and in the case of contributories, to the number of votes conferred on each contributory by the regulations of the Company.
Meetings of Creditors or Contributories.
Rule 45. When the Judge shall direct a meeting of the creditors or contributories of the Company to be summoned under the 91st or 149th section of the said Act, the official liquidator shall give notice in writing, seven clear days before the day appointed for such meeting, to every creditor or contributory, of the time and place appointed for such meeting, and of the matter upon which the Judge desires to ascertain the wishes of the creditors or contributories; or, if the Judge shall so direct, such notice may be given by advertisement, in which case the object of the meeting need not be stated, and it shall not be necessary to insert such advertisement in the London Gazette.
46. The votes of the creditors or contributories of the Company at any meeting summoned by the direction of the Judge, may be given either personally or by proxy ; but no creditor shall appoint a proxy who is not a creditor
of the Company whose debt or claim has been allowed, and no contributory shall appoint a proxy who is not a contributory of the Company.
47. The direction of the Judge for any meeting of creditors or contributories under the 91st or 149th section of the said Act, and the appointment of a person to act as chairman of any such meeting, shall be testified by a memorandum signed by the chief clerk of the Judge.
The form of notice of the meeting will be found in Appendix, and of the appointment of a proxy to vote at the meeting. Also memorandum of appointment of a chairman, and of his report.