Companies Act (Litchfields Liquidation) Amendment Act 1939 (WA)

1939.] Companies (Litchfields Liquidation). [No. 53.

COMPANIES (LITCHFIELDS

LIQUIDATION).

3° and 4° GEO. Ari., No. MIL

No. 53 of 1939.

AN ACT to enable certain holders of Selective Scour, ity Certificates issued by Litchfields (A/sia) Lim- ited to apply to the Court for the winding-up of the said Company under the provisions of the Companies Act, 1893-1938; to make certain pro- visions relating to the hearing of the petition and the winding-up and distribution of the assets of the Company; and for other purposes.

[Assented to 23rd December, 1939.]

RE it enacted by the King's Most Excellent Majesty,

by and with theladvice and consent of the Legis-

lative Council and Legislative Assembly of Western

Australia, in this present Parliament assembled, and by

the authority of the same, as follows:—

This Act may be cited as the Companies Act (Litch- se t Di fr or '

1.

fields Liquidation) Amendment Act, 1939, and shall be

read as one and incorporated with the Companies Act,

1893-1938, hereinafter called the principal Act.

2. hi tins Act—

''The Company'' means Litchfields(A/sia), Limited, lotne•uPrein.

being the company of that name formed and registered under the provisions of the principal

Act.

No. 53.] Companies (LiteMelds Liquidation). [1939.

"Certificate" means a Selective Security Certificate

or a Security Certificate issued by the company.

Certificate

holder to be	3.	Any person who is a holder of a certificate or certi-
deemed a

creditor and	ficates issued by the company in respect of which such
may present
petition.	person has paid or agreed to pay the company moneys totalling in the aggregate not less than fifty pounds shall be deemed, for the purposes of this Act and of section one hundred and nineteen of the principal Act, to be a creditor of the company and accordingly by virtue of the provisions of this Act may present to the Court a petition for the winding-up of the company as if he were a person entitled to present a petition under the provisions of the principal Act. Thereupon, subject to the provisions of this Act, the provisions of the prin- cipal Act and all rules and regulations thereunder shall, as far as they are applicable and with the necessary modifications thereinafter apply as if the petition had been duly presented under the provisions of the prin- cipal Act.
Evidence to

On the hearing of any petition for the winding-up of the company, whether by virtue of the provisions of this Act or of the principal Act, and whether such peti- tion is presented by a person who is deemed by the pro- visions of the last preceding section to be a creditor of the company or by any other person who is qualified by section one hundred and nineteen of the principal Act to present such petition, the Court may on the applica- tion of any party to the proceedings admit as evidence of the matters therein deposed to by witnesses a copy (certified by the chairman) of the transcript of the evidence taken by the select committee of the Legisla- tive Assembly of the Parliament of this State appointed on the nineteenth day of October, one thousand nine hundred and thirty-nine, to inquire into amongst other things companies issuing security or trust certificates, and shall receive such other evidence, oral or docu- mentary, as is admissible in support of or in opposition to any petition under the principal Act for winding-up a company.

be admitted 4.

by the Court.