Winding-up Rules. in New Zealand, issued by or under the authority of the Government Part VII. of New Zealand by virtue of an Act of the General Assembly, and secured upon the revenues of the colony, or placed at fixed deposit in Winding-up any bank in New Zealand to be named in the order, and for such rules. time and for such amount as the Judge shall direct. Every such investment shall be made in the joint names of the Official Liquidator and the Registrar, and no security or instrument representing such investment shall be sold, disposed of, or otherwise dealt with except upon a direction for that purpose signed by the Official Liquidator and countersigned by the Registrar, or under an order to be made by the Judge. 47. All dividends, interest, or other profits to accrue or be received upon any such investment shall from time to time as received be paid into the bank to the credit of the Official Liquidator of the company. Meetings of Creditors or Contributories. 48. When the Judge shall direct a meeting of the creditors or contributories of the company to be summoned under Sections 154 and 209 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 Gazette. Rule 44, E. 1862. Secs. 185 and 236 of 1903. Rule 45, E. W-U. Rules, 1862. 1862. 49. The votes of the creditors or contributories of the company, at Rule 46, E. any meeting summoned by the direction of the Judge, may be either W-U. Rules, 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. 50. The direction of the Judge for any meeting of creditors or contributories under Sections 154 or 209 of the said Act, and the appointment of a person to act as chairman of any such meeting, shall be testified by memorandum signed by the Registrar. Direction or Sanction of the Judge. 51. The sanction of the Judge to the drawing, accepting, making, and indorsing of any bill of exchange or promissory note by any Official Liquidator shall be testified by a memorandum on such bill of exchange or promissory note, signed by the Registrar. 52. Every application for the sanction of the Judge to a compromise with any contributory or other person indebted to the company shall be supported by the affidavit of the Official Liquidator that he has investigated the affairs of such contributory or person, and stating his belief that the proposed compromise will be beneficial to the company, and his reasons for such belief; and the sanction of the Judge hereto shall be testified by a memorandum, signed by the Registrar, on the agree Secs. 185 and 236 of 1903. Rule 47, E. W-U. Rules, 1862. Part VII. Winding-up rules. Rule 50, E. W-U. Rules, 1862. Rule 51, E. 1862. Secs. 258-260, 226, 229, 256, and 257 of 1903. Rule 52, E. W-U. Rules, 1862. Rule 53, E. W-U. Rules, 1862. Rule 54, E. W-U. Rules, 1862. Rule 55, E. W-U. Rules, 1862. Rule 57, E. 1862. Winding-up Rules. ment of compromise, unless any party shall desire to appeal from the decision of the Judge, in which case an order shall be drawn up for that purpose. 53. The direction or sanction of the Judge for any other proceeding or act to be taken or done by the Official Liquidator shall be obtained upon summons, and an order shall be drawn up thereon, unless the Judge shall otherwise direct. Applications to the Court or Judge under Sections 197, 198, 201, 228, 229. 54. Every application under Sections 197, 198, or 201 of the said Act shall be made by petition or motion, or, if the Judge shall so direct, by summons at Chambers; and every application under Sections 228 or 229 of the said Act shall be made by petition. Orders. 55. All orders made in Chambers shall be drawn up as an order of a Judge, unless specially directed to be drawn up as an order of Court. Advertisements. 56. When an advertisement is required for any purpose, except where otherwise directed by these rules, the advertisement shall be inserted once in the Gazette, and in such other newspaper or newspapers, and for such number of times as may be directed. The Judge may, in such cases as he shall think fit, dispense with any advertisements required by these rules. Admission of Documents. 57. Any party to any proceeding in Court or Chambers relating to the winding-up of the company may, by notice in writing, call on any other party thereto competent to admit the same to admit any document, saving all just exceptions; and, in case of refusal or neglect so to admit, the costs of proving such document shall be paid by the party so refusing or neglecting, unless the Judge shall be of opinion that the refusal to admit was reasonable; and no costs of proving any document shall be allowed unless such notice shall have been given, except in cases where the omission to give such notice has been, in the opinion of the Registrar on taxation, a saving of expense. Affidavits. 58. Where an order shall have been made for the winding-up of any company, any person intending to use any affidavit in any proceeding under such order shall file the same in the Supreme Court office where the proceedings are pending, and give notice thereof to the Official Liquidator. The person, other than the Official Liquidator, filing the affidavit shall not be required to take an office copy thereof; but an office copy thereof shall be taken by the Official Liquidator, and he shall produce the same at the hearing of any application or proceeding upon which it is intended to be used, unless the Judge shall otherwise direct. File of Proceedings. 59. All documents or proceedings under these rules shall be filed with the Registrar in like manner as the same are filed in an action under the ordinary practice of the Court. Winding-up Rules. 60. All orders, exhibits, admissions, memorandums, and office copies Part VII. of affidavits, examinations, depositions, and all other documents relating to the winding-up of any company shall be filed by the Official Liquidator, Winding-up as far as may be, in one continuous file; and such file shall be kept by rules. him, or otherwise, as the Judge may from time to time direct. Every contributory of the company, and every creditor thereof Rule 58, E. whose debt or claim has been allowed, shall be entitled, at all reasonable W-U. Rules, times, to inspect such file free of charge, and, at his own expense, to take 1862. copies or extracts from any of the documents comprised therein, or to be furnished with such copies or extracts at a rate not exceeding threepence per folio of seventy-two words; and such file shall be produced in Court, or before the Judge, and otherwise, as occasion may require. Provisional Official Liquidators. 61. All the above rules relating to Official Liquidators shall, as far as the same are applicable, and subject to the direction of the Judge in each case, apply to Provisional Liquidators. Attendance and Appearance of Parties. 1862. 62. Every person for the time being on the list of contributories Rule 60, B. of the company left at the Chambers of the Judge by the Official W-U. Rules, Liquidator, and every person having a debt or claim against the company allowed by the Judge, shall be at liberty, at his own expense, to attend the proceedings before the Judge; and shall be entitled, upon payment of the costs occasioned thereby, to have notice of all such proceedings as he shall by written request desire to have notice of; but, if the Judge shall be of opinion that the attendance of any such person upon any proceedings has occasioned any additional costs which ought not to be borne by the funds of the company, he may direct such costs, or a gross sum in lieu thereof, to be paid by such person, and such person shall not be entitled to attend any further proceedings until he has paid the same. 63. The Judge may from time to time appoint any one or more of the contributories or creditors, as he thinks fit, to represent before him, at the expense of the company, all or any class of the contributories or creditors upon any question as to a compromise with any of the contributories or creditors, or in and about any other proceedings before him relating to the winding-up of the company, and may remove the person or persons so appointed. In case more than one person shall be so appointed, they shall unite in employing the same solicitor to represent them. 64. No contributory or creditor shall be entitled to attend any proceedings at the Chambers of the Judge unless and until he has entered in a book, to be kept there for that purpose, his name and address, and the name and address of his solicitor, if any, and, upon any change of his address or of his solicitor, his new address and the name and address of his new solicitor. Services of Summonses, Notices, &c. Rule 61, E. 1862. Rule 62, E. W-U. Rules, 1862. 65. Services upon contributories and creditors shall be effected Rule 63, E. (except when personal service is required) by sending the notice or a W-U. Rules, 1862. Winding-up Rules. copy of the summons or order or other proceeding through the post in a prepaid letter addressed to the solicitor of the party to be served, if any, or otherwise to the party himself, at the address entered or last entered pursuant to the preceding rule; or if no such entry has been made, then, if a contributory, to his last-known address or place of abode; and, if a creditor, to the address given by him pursuant to the foregoing Rule 23; and such notice, or copy, summons, order, or other proceeding shall be considered as served at the time the same ought to be delivered in the due course of delivery by the post office, and notwithstanding the same may be returned by the post office. 66. No service under these rules shall be deemed invalid by reason that the first name or any of the first names of the person on whom service is sought to be made has been omitted, or designated by initial letters, in the list of contributories, or in the summons, order, notice, or other document wherein the name of such contributory or creditor is contained, provided the Judge is satisfied that such service is in other respects sufficient. Termination of Winding-up. 67. Upon the termination of the proceedings in Chambers for the winding-up of any company a balance-sheet shall be brought in by the Official Liquidator of his receipts and payments, and verified by his affidavit; and the Official Liquidator shall pass his final account, and the balance, if any, due thereon shall be certified; and upon payment of such balance in such manner as the Court or Judge shall direct the bond entered into by the Official Liquidator and his sureties, or other security given by him, may be vacated or released. 68. When the Official Liquidator has passed his final account, and the balance, if any, certified to be due thereon has been paid in such manner as the Judge shall direct, a certificate shall be made by the Registrar that the affairs of the company have been completely wound up; and, in case the company has not been already dissolved, the Official Liquidator shall, immediately after such certificate has become binding, apply to the Judge for an order that the company be dissolved from the date of such order. 69. When the proceedings for winding up any company have been completed, the file of proceedings and the book containing the Official Liquidator's account shall be deposited in the office of the Registrar in which such proceedings have been taken. Duties of Solicitor of Official Liquidator. 70. The solicitor of the Official Liquidator shall conduct all such proceedings as are ordinarily conducted by solicitors of the Court; and, where the attendance of his solicitor is required on any proceeding in Court or Chambers, the Official Liquidator need not attend in person except in cases where his presence is necessary in addition to that of his solicitor, or the Judge shall direct him to attend. Costs and Fees. 71. The Court may, in all matters before it, award such costs as it shall think fit, and may appoint the costs to be allowed to solicitors and 1862. Winding-up Rules. Winding-up others in respect of proceedings under these rules, in addition to the costs Part VII. actually paid out of pocket, other than fees to counsel; and the Court may make such order as to the taxation of costs as it thinks fit. The amount of such costs shall be regulated, as far as may be, according to the rules. scale of costs set forth in the First Schedule hereto, and such costs shall not exceed the scale therein set forth, except the same shall be specially allowed by the Court. Where, in any matter, no special costs are appointed the Judge shall fix the costs at the time of the hearing, or may direct that the same shall be allowed after taxation by the Registrar. 72. The fees of Court set forth and referred to in the Second Schedule hereto shall be paid in relation to proceedings in the Court under the said Act, and shall be collected and paid in like manner as other fees of Court are collected and paid. Forms. 73. The forms set forth or referred to in the Third Schedule to these rules, with such variations as the circumstances of each case may require, may be used for the respective purposes mentioned in such Schedule. Power of Judge. Rule 71, E. 1862. 74. The power of the Court, and of the Judge sitting in Chambers, Rule 73, E. to enlarge or abridge the time for doing any act, or taking any proceedings W-U. Rules, to adjourn or review any proceeding, and to give any direction as to the course of proceeding, is unaffected by these rules. General Directions. 75. The general practice of the Court, including the course of proceeding and practice at Judges' Chambers under the general rules of Court for the time being in force under "The Supreme Court Act, 1882," shall, in cases not provided for by "The Companies Act, 1882," or these rules, and so far as the same are applicable and not inconsistent with the said Act or these rules, apply to all proceedings for winding up a company. And any Judge of the said Court may do in Chambers any act which the Court is authorised to do. First Schedule. Costs and Charges to be allowed to Solicitors. 1862. Rule 74, E. W-U. Rules, 1862. To the solicitor of the petitioner, for all services up to the appoint- 1st Schedule. ment of the Official Liquidator: (1) Where the estimated value of the assets of the company to be wound up does not exceed £1,000, a sum not exceeding (2) Where the estimated value of the assets of the company £ s. d. 10 0 0 25 0 0 |