Settlement of contributories requires the tribunal to list contributors, rectify registers, and apply assets in winding up. The Tribunal must promptly settle a list of contributories, may rectify the register of members when required, and shall cause the company's assets to be collected and applied to discharge liabilities; the Tribunal may dispense with the list where calls or rights adjustments are unnecessary, and must distinguish contributories in their own right from those acting as representatives or liable for others' debts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Settlement of contributories requires the tribunal to list contributors, rectify registers, and apply assets in winding up.
The Tribunal must promptly settle a list of contributories, may rectify the register of members when required, and shall cause the company's assets to be collected and applied to discharge liabilities; the Tribunal may dispense with the list where calls or rights adjustments are unnecessary, and must distinguish contributories in their own right from those acting as representatives or liable for others' debts.
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