Saving for Solicitors & Bankers Notice to Registrar Power to Appoint Inspector Production of Documents Entry and Search of Premises Provision for Security of Information Penalties for Documents Destruction Penalties for False Information Saving for Solicitors and Bankers Order for Inspection Ancillary Orders Disclosure or Use of Information Legal Professional Privilege Protection of Personal Data Directors of non-Private Companies Directors of Private Companies Liability for Acts of Alternates Written Record of Decision Secretary Restriction on Body Corporate Acting in Dual Capacity Qualification of Director Disposal of Company's Fixed Assets Notices of Resolutions Directors' Duty to Shareholders Provisions as to Bankrupts Validity of Acts of Directors Appointment of Directors Removal of Directors Minimum Age Limit for Directors Resignation of Director or Secretary Prohibition of Loans, etc. Excepted Transactions Consequences of Contravening 157H Criminal Penalties Register of Directors Keeping Register of Directors Duty to Make Disclosure Keeping an Index of Directors Directors with Unlimited Liability Limited Company: Special Resolution Particulars in Accounts Statements Annexed to Accounts Particulars in Accounts of Loans Further Provisions Relating to Loans General Duty to Make Disclosure Disclosure of Material Interests Management Contracts Contracts with Sole Member Payment for Loss of Office Approval of Company Requisite Director's Duty to Disclose Payment Payment of Damages in Certain Cases Supplementary Provisions Provisions as to Assignment of Office Provisions as to Liability of Officers Power to Compromise with Creditors Information as to Compromises Provisions for Reconstruction Successful Take-over Offer Alternative Remedy to Winding up Buy out by Share Repurchase Definition Application Members May Bring or Intervene Service of Written Notice Power to Strike out Proceedings Effect of Approval or Ratification General Powers of Court Protection of Personal Data Power of Court to Make Orders Discontinuance or Settlement Rules of Court Interpretation Disqualification Orders: General Conviction of Indictable Offence Persistent Breaches of Ordinance Disqualification for Fraud, etc. Disqualification of Unfit Directors Applications Under Section 168H Power to Order Public Examination Disqualification After Investigation Matters for Determining Unfitness Fraudulent Trading Criminal Penalties II Offences by Body Corporate Personal Liability for Company's Debts Application for Disqualification Order Application for Leave Under an Order Register of Disqualification Orders Regulations Transitional Modes of Winding up Liability as Contributories of Members Definition of Contributory Nature of Liability of Contributory Contributories in Case of Death Contributories in Case of Bankruptcy Jurisdiction to Wind up Companies Circumstances for Winding up Definition of Inability to Pay Debts Applications for Winding up Appearance of Official Receiver Powers of Court on Hearing Petition Hearing of Unopposed Petition Power to Stay or Restrain Avoidance of Dispositions of Property Avoidance of Attachments, &c. Commencement of Winding up Copy of Order to be Delivered Actions Stayed on Winding-up Order Effect of Winding-up Order Statement of Company's Affairs Report by Official Receiver Power to Appoint Liquidators Appointment of Provisional Liquidator Appointment, Style of Liquidators Person Other than Official Receiver General Provisions as to Liquidators Custody of Company's Property Vesting of Property of Company Powers of Liquidator Exercise of Liquidator's Powers Books to be Kept by Liquidator Payments of Liquidator into Bank Audit of Liquidator's Accounts Control of Official Receiver Release of Liquidators Meetings of Creditors&Contributories Constitution and Proceedings Powers of Court: No Committee Power to Stay Winding up Creditors' Voluntary Winding up Order under Section 209A Transitional II Settlement of List of Contributories Delivery of Property to Liquidator Debts Due by Contributory Power of Court to Make Calls Moneys Due to Company Contributory Conclusive Evidence Appointment of Special Manager Exclusion of Creditors not Proving Adjustment of Contributories Rights Inspection of Books by Creditors Power to Order Costs of Winding up Power to Summon Persons Power to Order Public Examination Jurisdiction of Registrar Power to Arrest Contributory Powers of Court Cumulative Delegation of Powers to Liquidator Dissolution of Company Otherwise Dissolution of Company: Court Order Court May Make a Regulating Order Appointment of Liquidator Compromises and Arrangements Proof of Debts Application of Ordinance Voluntary Winding up Voluntary Winding up Procedure Notice of Resolution to Wind up Commencement of Winding up Effect of Voluntary Winding up Avoidance of Transfers, &c. Certificate of Solvency Provisions Applicable to Winding up Power of Company to Appoint Power to Remove Liquidator Power to Fill Vacancy in Office Liquidator's Power to Accept Shares Duty of Liquidator to Call Creditors' Duty of Liquidator to Call Meeting Final Meeting and Dissolution Annual and Final Meetings Provisions Applicable to Creditors' Meeting of Creditors Appointment of Liquidator Appointment of Committee Fixing of Liquidators' Remuneration Power to Fill Vacancy in Office Application of Section 237 Duty of Liquidator to Call Meetings Final Meeting and Dissolution Provisions Applicable to Every Distribution of Property of Company Powers and Duties of Liquidator Appointing and Removing Liquidator Notice by Liquidator Binding on Creditors Power to Apply to Court Audit of Liquidator's Accounts Costs of Voluntary Winding up Saving for Rights of Creditors Debts of All Descriptions Application of Bankruptcy Rules Interest on Debts Extortionate Credit Transactions Preferential Payments Fraudulent Preference Fraudulently Preferred Persons Fraudulent Preference deemed to Effect of Floating Charge Disclaimer of Onerous Property Restriction of Rights of Creditor Duties of Bailiff as to Goods
Chapter: 32  COMPANIES ORDINANCE

Section Num: 194  Version Date 01/07/2000

Appointment, style, etc. of liquidators

(1) The following provisions with respect to liquidators shall have effect on a winding-up order being made-  (Amended 3 of 1997 s. 41)

(a) subject to paragraph (aa) and subsection (1A), the Official Receiver shall by virtue of his office become the provisional liquidator and shall continue to act as such until he or another person becomes liquidator and is capable of acting as such;  (Amended 3 of 1997 s. 41; 46 of 2000 s. 24)

(aa) where under section 193 a person other than the Official Receiver is appointed as provisional liquidator, he shall continue to act as the provisional liquidator until he or another person becomes the liquidator and is capable of acting as such;  (Added 3 of 1997 s. 41)

(b) the provisional liquidator shall summon separate meetings of the creditors and contributories of the company for the purpose of determining whether or not an application is to be made to the court for appointing a liquidator;  (Amended 3 of 1997 s. 41; 46 of 2000 s. 24)

(c) the court may make any appointment and order required to give effect to any such determination, and, if there is a difference between the determinations of the meetings of the creditors and contributories in respect of the matter aforesaid, the court shall decide the difference and make such order thereon as the court may think fit;

(d) the court may make any appointment and order as it thinks fit if the creditors and contributories of the company do not pass a resolution or do not meet;  (Replaced 46 of 2000 s. 24)

(e) the Official Receiver shall by virtue of his office be the liquidator during any vacancy;

(f) a liquidator shall be described, where a person other than the Official Receiver is liquidator, by the style of the liquidator, and, where the Official Receiver is liquidator, by the style of the Official Receiver and liquidator, of the particular company in respect of which he is appointed, and not by his individual name.

(1A) Where the Official Receiver-

(a) is the provisional liquidator of the company by virtue of subsection (1)(a); and

(b) is of the opinion that the property of the company is not likely to exceed in value $200000,

he may, at any time, appoint 1 or more persons as provisional liquidator in his place.  (Added 46 of 2000 s. 24)

(2) Where the Official Receiver is the liquidator of the company,

he may, at any time, apply to the court for the appointment of a person as a liquidator in his place.  (Added 3 of 1997 s. 41)

(3) On an application under subsection (2) the court shall either make an appointment or decline to make one.  (Added 3 of 1997 s. 41)

(4) Where a liquidator is appointed by the court under subsection (3), the liquidator shall give notice of his appointment to the company's creditors and contributories in accordance with the directions of the court.  (Added 3 of 1997 s. 41)

(5) In a notice under subsection (4), the liquidator shall state his intention to summon meetings of the company's creditors and contributories, in accordance with section 206, for the purpose of determining-

(a) whether or not an application is to be made to the court for the appointment of a committee of inspection to act with the liquidator;

and

(b) who are to be the members of the committee, if appointed.

(Added 3 of 1997 s. 41)

[cf. 1929 c. 23 s. 185 U.K.]

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