Companies. [Ch. 31. No. 1.

(2) Where a company is being wound up voluntarily
or subject to supervision, a winding up petition may be
presented by the Official Receiver as well as by any other
person authorised in that behalf under the other provisions
of this section, but the Court shall not make a winding up
order on the petition unless it is satisfied that the voluntary
winding up or winding up subject to supervision cannot be
continued with due regard to the interests of the creditors
or contributories.

(3) Where under the provisions of this Part of this
Ordinance any person as being the husband of a female
contributory is himself a contributory, and a share has
during the whole or any part of the six months mentioned in
proviso (a) (ii) to subsection (1) of this section been held by
or registered in the name of the wife, or by or in the name of
a trustee for the wife or for the husband, the share shall, for
the purposes of this section, be deemed to have been held
bv and registered in the name of the husband.

164. (1) On hearing a winding up petition the Court may
dismiss it, or adjourn the hearing conditionally or uncon-
ditionally or make any interim order, or any other order
that it thinks fit, but the Court shall not refuse to make a
winding up order on the ground only that the assets of the
company have been mortgaged to an amount equal to or
in excess of those assets, or that the company has no assets,

(2) Where the petition is presented on the ground of
default in delivering the statutory report to the Registrar
or in holding the statutory meeting, the Court may—

(a) instead of making a winding up order, direct that
the statutory report shall be delivered or that a meeting
shall be held; and

(b) order the costs to be paid by any persons who,
in the opinion of the Court, are responsible for the
default.

165. At any time after the presentation of a winding up
petition, and before a winding up order has been made, the
company, or any creditor or contributory, may, where any
action or proceeding is pending against the company, apply
to the Court to restrain further proceedings in the action or

443

Powers of
Court on
hearing
petition.

Power to
stay or
restrain
proceedings
against
company.