504

Contribu-
tories in
winding gy
of UNTegis-
tered
company.

Power of
Court to
stay or
restrain pro-
coedings.

Ch. 31. No. 1.} Compantes.

or proceeding having been served on the company
by leaving the same at its principal place of
business, or by delivering it to the secretary or
some director, manager, or principal officer of the
company, or by otherwise serving the same in
such manner as the Court may approve or direct,
the company has not, within ten days after
service of the notice, paid, secured, or compounded
for the debt or demand, or procured the action
or proceeding to be stayed, or indemnified the
defendant to his reasonable satisfaction against
the action or proceeding, and against all costs,
damage., and expenses to be incurred by him
by reason of the same;

(c) if execution or other process issued on a
judgement, decree, or order obtained in the Court
in favour of a creditor against the company, or any
member thereof as such, or any person authorised
to be sued as nominal defendant on behalf of the
company, is returned unsatisfied ;

(d) if it is otherwise proved to the satisfaction of
the Court that the company is unable to pay its
debts.

292. (1) In the event of an unregistered company being
wound up, every person shall be deemed to be a contri-
butory who is Hable to pay or contribute to the payment of
any debt or lability of the company, or to pay or contribute
to the payment of any sum for the adjustment of the rights
of the members among themselves, or to pay or contribute
to the payment of the costs and expenses of winding up
the company, and every contributory shall be lable to
contribute to the assets of the company all sums due from
him in respect of any such liability as aforesaid.

(2) In the event of the death or bankruptcy of any
contributory, the provisions of this Ordinance with respect
to the personal representative, next of kin, and devisces of
deceased contributories, to the trustees of bankrupt con-
tributories, shall apply.

293. The provisions of this Ordinance with respect to
staying and restraining actions and proceedings against a