Companies. |Ch. 31. No. 1.

shall cause the assets of the company to be collected, and
applied in discharge of its liabilities:

Provided that, where it appears to the Court that it will
not be necessary to make calls on or adjust the rights of
contributorie. , the Court mi i dispense with the settlement
of a list of contributoric.

(2) In settling the list of contributories, the Court
shall distinguish between persons who are contributories
m their own right and persons who are contributories as
being representatives of or liable for the debts of others.

194. The Court may, at any time after making a winding
up order, require any contributory for the time being on the
hist of contributorics, and any trustee, receiver, banker,
agent or officer of the company to pay, de liver, convey,
surrender, or transfer forthwith, or within such time as the
Court directs, to the liquidator any moncy, property, or
books and papers in his hands to which the company 1s
prima facie entitled.

195. (1) The Court may, at any time after making a
winding up order, make an order on any contributory for
the time being on the list of contributories to pay, in manner
directed by the order, any money due from him or from the
estate of the person whom he represents to the company, ¢
exclusive of any money payable by him or the estate by
virtue of any callin pursuance of this Ordinance.

(2) The Court in making such an order may—

(a) in the case of an unlimited company, allow to the
contributory by way of set-off any money due to him
or to the estate which he represents from the company
on any independent dealing or contract with the
company, but not any money duc to him as a member
of the company in respect of any dividend or profit;
and

(o) in the case of a limited company, make to any
director or manager whose liability is unlimited or to
his estate the like allowance.

(3) In the case of any company, whether limited or
unlimited, when all the creditors are paid in full, any money
due on any account whatever to a contributory from the

Delivery of
property to
liquidator.

layment of
debts due by
contributory
to company
and extent
to which set -
off allowed.