Compantes. [Ch. 31. No. 1.

by reason of his ignorance of the proceedings for reduction,
or of their nature and effect with respect to his claim, not
entered on the list of creditors, and, after the reduction, the
company is unable, within the meaning of the provisions of
this Ordinance with respect to winding up by the Court,
to pay the amount of his debt or claim, then—

(a) every person who was a member of the company
at the date of the registration of the order for reduction
and minute, shall be liable to contribute for the pay-
ment of that debt or claim an amount not exceeding
the amount which he would have been liable to contri-
bute if the company had commenced to be wound up
on the day before the said date; and

(b) if the company is wound up, the Court, on the
application of any such creditor and proof of his
ignorance as aforesaid, may, if it thinks fit, settle
accordingly a list of persons so liable to contribute,
and make and enforce calls and orders on the contri-
butories settled on the list, as if they were ordinary
contributories 1n a winding up.

(2) Nothing in this section shall affect the rights of the
contributories among themselves.

62. If any director, manager, secretary or other officer of
the company
(1) wilfully conceals the name of any creditor
entitled to object to the reduction, or
(2) wilfully misrepresents the nature or amount of
the debt or claim of any creditor, or
(3) aids, abets or is privy to any such concealment or
misrepresentation as aforesaid,
he shall be guilty of a misdemeanor.

Variation of shareholders’ rights.

63. (1) If in the case of a company, the share capital of
which is divided into different classes of shares, provision is
made by the memorandum or articles for authorising the
variation of the rights attached to any class of shares in the
company, subject to the consent of any specified proportion
of the holders of the issued shares of that class or the sanc-
tion of aresolution passed at a separate meeting of the holders

375

Penalty on
concealment
of name of
creditor.

Rights of
holders of
special
classes of
shares.