All money to be paid into special bank account in a scheduled bank
(2)
The Company Liquidator shall make quarterly reports to the Tribunal regarding the funds, including filing the bank statements of the special bank account.
Complied AIBack to law libraryReading nowCompanies Rules under the Companies Act, 201355 chapters · 1109 rulesChapters55
- ¶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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