Rule 107Chapter 37
Discount
Discount.- A creditor proving his debt shall deduct therefrom all trade discounts, if any.
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- ¶Chapter 37 overview
- 2Definitions
- 3Petition for winding up
- 4Statement of affairs
- 5Admission of petition and directions as to advertisement
- 6Copy of petition to be furnished
- 7Advertisement of petition
- 8Application for leave to withdraw petition
- 9Substitution for original petitioner
- 10Procedure on substitution
- 11Affidavit-in-objection
- 12Affidavit in reply
- 13Applicability
- 14Appointment of provisional liquidator or Company Liquidator
- 15Rules applicable to provisional liquidator
- 16Costs, etc., of provisional liquidator
- 17Order to be sent to liquidator and form of order
- 18Contents of winding up order
- 19Directions on making winding up order
- 20Advertisement of order
- 21Declaration by Company Liquidator
- 22Company Liquidator to take charge of assets and books and papers of company
- 23Form of proceedings after winding up order is made
- 24Application for leave to commence or continue suit or proceeding
- 25Report by Company Liquidator
- 26Inspection of statement of affairs and report
- 27Consideration of report by Tribunal
- 28Provisional list of contributories
- 29Notice to be given of date of settlement
- 30Settlement of list
- 31Notice of settlement to contributories
- 32Supplemental list of contributories
- 33Variation of list
- 34Application for rectification of list
- 35List of contributories consisting of past members
- 36Meeting of creditors and contributories
- 37Company Liquidator to report result of meeting
- 38Filling -up of vacancy in advisory committee
- 39Company Liquidator and members of advisory committee dealing with company’s assets
- 40Advisory committee not to make profit
- 41Cost of obtaining order of Tribunal
- 42Order sanctioning payment to advisory committee
- 43Meetings of advisory committee
- 44Application of rules to meetings
- 45Notice of meeting
- 46Place and time of meeting
- 47Notice of first or other meeting to officers of company
- 48Proof of notice
- 49Costs of meeting
- 50Chairman of meeting
- 51Resolution at creditors’ meeting
- 52Resolution of contributories’ meeting
- 53Copies of resolution to be filed
- 54Non-receipt of notice by creditor or contributory
- 55Adjournments
- 56Quorum
- 57Procedure in absence of quorum
- 58When creditor can vote
- 59Case in which creditors may not vote
- 60When secured creditor can vote
- 61Effect of voting by a secured creditor
- 62Procedure when secured creditor votes without surrendering security
- 63Admission or rejection of proof for purposes of voting
- 64Minutes of proceedings
- 65Report to Tribunal
- 66Voting by proxies
- 67Form of proxies
- 68Proxies to Company Liquidator or chairman of meeting
- 69Use of proxies by deputy
- 70Forms to be sent with notice
- 71Proxies to be lodged
- 72Holder of proxy not to vote on matter in which he is financially interested
- 73Minor not to be appointed proxy
- 74Filling in proxy where creditor or contributory is blind or incapable
- 75Proxy of person not acquainted with English
- 76Submission of periodical reports to the tribunal
- 77Employment of additional or special staff by Official Liquidator
- 78Declaration by professional
- 79Record book to be maintained by Company Liquidator
- 80Registers and books to be maintained by Company Liquidator
- 81All money to be paid into special bank account in a scheduled bank
- 82Bills, cheques, etc. to be deposited with bank
- 83Payments into Bank
- 84Company Liquidator’s Dividend Account
- 85Where the company has no available assets
- 86Investment of surplus funds
- 87Company Liquidator to examine accounts for purposes of investment
- 88Investments to be made by Bank
- 89Dividend and interest to be credited
- 90Refunds of taxes
- 91Half-yearly accounts to be filed
- 92Form of account
- 93Nil account
- 94Registry to send copy of account to auditor
- 95Audit of Company Liquidator’s accounts
- 96Audit certificate to be filed
- 97Audit fees
- 98Inspection of account and certificate of audit
- 99Account and auditor’s report to be placed before Tribunal
- 100Notice for proving debts
- 101Proof of debt
- 102Mode of proof and verification thereof
- 103Contents of proof
- 104Workmen’s dues
- 105Production of bills of exchange and promissory notes
- 106Value of debts
- 107Discount
- 108Interest
- 109Periodical payments
- 110Proof of debt payable at future time
- 111Examination of proof
- 112Company Liquidator’s right to call any person in connection with investigation
- 113Affidavit
- 114Costs of proof
- 115Acceptance or rejection of proof to be communicated
- 116Appeal by creditor
- 117Procedure where creditor appeals
- 118Company Liquidator not to be personally liable for costs
- 119Proofs and list of creditors to be filed in Tribunal
- 120List of creditors not to be varied
- 121Notice of filing list and inspection of same
- 122Expunging of proof
- 123Procedure on failure to prove debt within time fixed
- 124Right of creditor who has not proved debt before declaration of dividend
- 125Payment of subsequent interest
- 126Attendance at proceedings
- 127Representation of creditors and contributories before Tribunal
- 128Powers of Company Liquidator
- 129Company Liquidator to be in position of receiver
- 130Company’s property to be surrendered to Company Liquidator on requisition
- 131Calls by Company Liquidator
- 132Company Liquidator to realise uncalled capital
- 133Application for leave to make call
- 134Notice of application
- 135Order granting leave to make call and document making call
- 136Service of notice of call
- 137Order for payment of call
- 138Other moneys due by contributories
- 139Application for examination under section 299
- 140Directions at hearing of application
- 141Service of summons
- 142Conduct of examination
- 143Notes of deposition
- 144Order for examination under section 300
- 145Notice of examination
- 146Adjournment of examination for orders of Tribunal
- 147Procedure for contumacy
- 148Notes of examination
- 149Application under sub-section (5) of section 300
- 150Warrant of arrest of contributory
- 151Prison to which contributory arrested on warrant is to be taken
- 152Execution of warrant of arrest outside jurisdiction of Tribunal
- 153Application under section 339 or section 340
- 154Directions at preliminary hearing of summons
- 155Liberty to apply for further directions
- 156Application for disclaimer
- 157Preliminary hearing of application
- 158Claimant to furnish statement of his interest
- 159Service of notice
- 160Order granting leave to disclaim
- 161Disclaimer to be filed in Tribunal
- 162Vesting of disclaimed property
- 163No claim to be compromised or abandoned without sanction of Tribunal
- 164Application for sanction of compromise
- 165Sale to be subject to sanction and to confirmation by Tribunal
- 166Procedure at sale
- 167Expenses of sale
- 168Declaration of dividend or return of capital
- 169Notice of declaration
- 170Form of authority to pay dividend
- 171Transmission of dividends, etc. by post
- 172Form of order directing return of capital
- 173Payment of dividend or return of capital due to deceased creditor or contributory
- 174Company Liquidator to apply for dissolution
- 175Dissolution of company
- 176Liquidator to pay the balance into Company Liquidation Dividend and Undistributed Assets Account
- 177Conclusion of winding up
- 178Application to declare dissolution void
- 179Statement to accompany payment
- 180Unclaimed dividends or undistributed assets under investment
- 181Application by person for payment of money paid into the Company Liquidation Dividend and Undistributed Assets Account
- 182Cost and expenses payable out of the assets in a winding up by Tribunal
- 183Costs in the discretion of Tribunal
- 184Bill of costs by authorised representative, etc. employed by Company Liquidator
- 185Fees in misfeasance proceeding
- 186Fees when proceeding is compromised
- 187Costs of parties having common interest
- 188Tribunal’s power to fix a fee
- 189Allowance to witnesses
- 190Powers and functions of Official Liquidator
- 191Inspection of file
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