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Page 258

CHAPTER 24
WINDING UP SUBJECT TO SUPERVISION OF COURT

WHEN a company has passed a resolution for voluntary winding up, the Court may order that the winding up shall continue subject to such supervision of the Court, and with such liberty for creditors, contributories, or others to apply to the Court, and generally on such terms and conditions as the Court thinks just (s. 311).
A winding up under supervision is a form of voluntary winding up, in that the Official Receiver is never liquidator and no public examination can be held. It differs from a voluntary winding up in the following respects:
1. After a supervision order has been made no action against the company can be commenced or continued without the leave of the Court. After the presentation of the petition actions may be stated on application. (1)
2. All dispositions of property after the commencement of the winding up are void, unless the Court otherwise orders. (2)
3. Any attachment, sequestration, distress, or execution put in force against the company after the commencement of the winding up, is void. (3)
4. The order invariably orders the liquidator to file with the Registrar every three months a report of the position of, and the progress made with, the winding up of the company, and also orders the costs to be taxed.(4)
The Court has an absolute discretion as to the granting of a supervision order, and a creditor is not entitled to such an order as of right. (5)
On making a supervision order, the Court may appoint an additional liquidator. A liquidator so appointed has the same powers and is

1 Ss, 312, 226, 231.
2 Ss. 313, 227.
3 Ss. 313, 228.
4 See Companies (Winding-up) Rules, 1929, Appendix, Form 18.
5 Crawford v. Cowper (1902), 4 Fra. 849.

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where is HTML where is HEAD where is TITLE WHEN a company has passed a resolution for voluntary winding up, what is Court may order that what is winding up shall continue subject to such supervision of what is Court, and with such liberty for creditors, contributories, or others to apply to what is Court, and generally on such terms and conditions as what is Court thinks just (s. 311). A winding up under supervision is a form of voluntary winding up, in that what is Official Receiver is never liquidator and no public examination can be held. It differs from a voluntary winding up in what is following respects: 1. After a supervision order has been made no action against what is company can be commenced or continued without what is leave of what is Court. After what is presentation of what is petition actions may be stated on application. (1) 2. All dispositions of property after what is commencement of what is winding up are void, unless what is Court otherwise orders. (2) 3. Any attachment, sequestration, distress, or execution put in force against what is company after what is commencement of what is winding up, is void. (3) 4. what is order invariably orders what is liquidator to file with what is Registrar every three months a report of what is position of, and what is progress made with, what is winding up of what is company, and also orders what is costs to be taxed.(4) what is Court has an absolute discretion as to what is granting of a supervision order, and a creditor is not entitled to such an order as of right. (5) On making a supervision order, what is Court may appoint an additional liquidator. A liquidator so appointed has what is same powers and is 1 Ss, 312, 226, 231. 2 Ss. 313, 227. 3 Ss. 313, 228. 4 See Companies (Winding-up) Rules, 1929, Appendix, Form 18. 5 Crawford v. Cowper (1902), 4 Fra. 849. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 258 where is strong CHAPTER 24 WINDING UP SUBJECT TO SUPERVISION OF COURT where is p align="justify" WHEN a company has passed a resolution for voluntary winding up, what is Court may order that what is winding up shall continue subject to such supervision of what is Court, and with such liberty for creditors, contributories, or others to apply to what is Court, and generally on such terms and conditions as what is Court thinks just (s. 311). A winding up under supervision is a form of voluntary winding up, in that what is Official Receiver is never liquidator and no public examination can be held. It differs from a voluntary winding up in what is following respects: 1. After a supervision order has been made no action against the company can be commenced or continued without what is leave of the Court. After what is presentation of what is petition actions may be stated on application. (1) 2. All dispositions of property after what is commencement of what is winding up are void, unless what is Court otherwise orders. (2) 3. Any attachment, sequestration, distress, or execution put in force against what is company after what is commencement of what is winding up, is void. (3) 4. what is order invariably orders what is liquidator to file with the Registrar every three months a report of what is position of, and the progress made with, what is winding up of what is company, and also orders what is costs to be taxed.(4) what is Court has an absolute discretion as to what is granting of a supervision order, and a creditor is not entitled to such an order as of right. (5) On making a supervision order, what is Court may appoint an additional liquidator. A liquidator so appointed has what is same powers and is 1 Ss, 312, 226, 231. 2 Ss. 313, 227. 3 Ss. 313, 228. 4 See Companies (Winding-up) Rules, 1929, Appendix, Form 18. 5 Crawford v. Cowper (1902), 4 Fra. 849. where is Server.Execute("_SiteMap.asp") %

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