Insolvency Act · s 75

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

75.
Final meeting prior to dissolution
(1) As soon as the affairs of the company are fully wound up, the liquidator shall make up an account of the winding up showing how it has been conducted and the property of the company has been disposed of, and thereon shall call a general meeting of the company for the purpose of laying before it the account and giving an explanation of it.
(2) The meeting shall be called by advertisement in the Gazette, specifying the time, place and object of the meeting, and published at least one month before the meeting.
(3) Within one week after the meeting, the liquidator shall send to the Registrar a copy of the account, and shall make a return to him of the holding of the meeting and of its date.
(4) If a quorum is not present at the meeting, the liquidator shall, in lieu of the return mentioned in subsection (3), make a return that the meeting was duly summoned and that no quorum was present; and on such return being made, the requirement in subsection (3) as to the making of the return is deemed to be complied with.
(5) A liquidator who fails to —
(a) send the copy of the account or make the return in accordance with subsection (3); or
(b) call a general meeting of the company as required by subsection (1), is guilty of an offence and liable on conviction to a fine not exceeding
$1,000, and, in the case of a continuing offence, with a further fine not exceeding $50 for every day or part thereof during which the offence continues after conviction.

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 75Final meeting prior to dissolution

(1)

As soon as the affairs of the company are fully wound up, the liquidator shall make up an account of the winding up showing how it has been conducted and the property of the company has been disposed of, and thereon shall call a general meeting of the company for the purpose of laying before it the account and giving an explanation of it.

(2)

The meeting shall be called by advertisement in the Gazette, specifying the time, place and object of the meeting, and published at least one month before the meeting.

(3)

Within one week after the meeting, the liquidator shall send to the Registrar a copy of the account, and shall make a return to him of the holding of the meeting and of its date.

(4)

If a quorum is not present at the meeting, the liquidator shall, in lieu of the return mentioned in subsection (3), make a return that the meeting was duly summoned and that no quorum was present; and on such return being made, the requirement in subsection (3) as to the making of the return is deemed to be complied with.

(5)

A liquidator who fails to —

(a)

send the copy of the account or make the return in accordance with subsection (3); or

(b)

call a general meeting of the company as required by subsection (1), is guilty of an offence and liable on conviction to a fine not exceeding

$1,000, and, in the case of a continuing offence, with a further fine not exceeding $50 for every day or part thereof during which the offence continues after conviction.