✨ Companies Winding-Up Rules
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Every meeting shall be held at such place as is in the opinion of
the person convening the same most convenient for the majority of the
creditors or contributories or both. Different times or places or both may,
if thought expedient, be named for the meetings of creditors and for the
meetings of contributories. -
The costs of summoning a meeting of creditors or contributories at
the instance of any person other than the Official Assignee or liquidator shall
be paid by the person at whose instance it is summoned, who shall, before
the meeting is summoned, deposit with the Official Assignee or liquidator
(as the case may be) such sum as may be required by the Official Assignee
or liquidator as security for the payment of such costs. The costs of
summoning such meeting of creditors or contributories, including all dis-
bursements for printing, stationery, postage, and the hire of room, shall
be calculated at the following rate for each creditor or contributory to whom
notice is required to be sent—namely, two shillings per creditor or con-
tributory for the first twenty creditors or contributories, one shilling per
creditor or contributory for the next thirty creditors or contributories,
sixpence per creditor or contributory for any number of creditors or con-
tributories after the first fifty. The said costs shall be repaid out of the
assets of the company if the Court shall by order or if the creditors or
contributories (as the case may be) shall by resolution so direct. This
rule shall not apply to meetings under section 234 or section 238 of the
Act. -
Where a meeting is summoned by the Official Assignee or the
liquidator, he or someone nominated by him shall be Chairman of the
meeting. At every other meeting of creditors or contributories the Chair-
man shall be such person as the meeting by resolution shall appoint. This
rule shall not apply to meetings under section 234 of the Act. -
At a meeting of creditors a resolution shall be deemed to be passed
when a majority in number and value of the creditors present personally
or by proxy and voting on the resolution have voted in favour of the re-
solution, and at a meeting of the contributories a resolution shall be deemed
to be passed when a majority in number and value of the contributories
present personally or by proxy and voting on the resolution have voted
in favour of the resolution, the value of the contributories being deter-
mined according to the number of votes conferred on each contributory
by the regulations of the company. -
The Official Assignee or, as the case may be, the liquidator shall
file in the registry a copy certified by him of every resolution of a meeting
of creditors or contributories in a winding-up by the Court. -
Where a meeting of creditors or contributories is summoned by
notice the proceedings and resolutions at the meeting shall, unless the Court
otherwise orders, be valid notwithstanding that some creditors or con-
tributories may not have received the notice sent to them. -
The Chairman may with the consent of the meeting adjourn it
from time to time and from place to place, but the adjourned meeting shall
be held at the same place as the original meeting unless in the resolution
for adjournment another place is specified or unless the Court otherwise
orders. -
(1) A meeting may not act for any purpose except the election
of a Chairman, the proving of debts, and the adjournment of the meeting
unless there are present or represented thereat at least three creditors
entitled to vote or three contributories or all the creditors entitled to vote
or all the contributories if the number of creditors entitled to vote or the
contributories, as the case may be, shall not exceed three.
(2) If within half an hour from the time appointed for the meeting a
quorum of creditors or contributories is not present or represented the
meeting shall be adjourned to the same day in the following week at the
same time and place or to such other day or time or place as the Chairman
may appoint, but so that the day appointed shall be not less than seven or
more than twenty-one days from the day from which the meeting was
adjourned.
- In the case of a first meeting of creditors or of an adjournment
thereof a person shall not be entitled to vote as a creditor unless he has
duly lodged with the Official Assignee not later than the time mentioned
for that purpose in the notice convening the meeting or adjourned meeting
a proof of the debt which he claims to be due to him from the company.
In the case of a Court meeting or liquidator's meeting of creditors a person
shall not be entitled to vote as a creditor unless he has lodged with the
Official Assignee or liquidator a proof of the debt which he claims to be due
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VUW Te Waharoa —
NZ Gazette 1934, No 84
NZLII —
NZ Gazette 1934, No 84
✨ LLM interpretation of page content
⚖️
Companies (Winding-Up) Rules and Supreme Court (Companies) Rules
(continued from previous page)
⚖️ Justice & Law Enforcement20 November 1934
Rules, Companies, Winding-Up, Supreme Court, Order in Council