1957 (7) TMI 18

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..... served. The matter assumes some importance for this reason : To the winding up of this company (which is an unregistered company within the meaning of the Companies Act, 1948), section 399 (1) applies. That section, which for the present purpose is indistinguishable from section 199 of the Companies Act, 1862, provides as follows : " (1) Subject to the provisions of this Part of this Act, any unregistered company may be wound up under this Act." It is plain from these words that the court has some kind of discretion. It is not material for the present purpose precisely what are the boundaries of that discretion, but the word "may" must import some discretion. The sub-section continues : and all the provisions of this Act with respect to w .....

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..... shall limit his authority in the way I have already indicated." The order was directed not to be drawn up for a fortnight, in order to give the bank an opportunity to appeal. I think that something in the nature of what North J. did in Commercial Bank of South Australia 's Case ( supra ) , the case to which Vaughan Williams J. referred to, could be done, if desirable, in a winding-up order. It is important to consider carefully what North J. said in that case. The report is that of the adjourned hearing of a winding-up petition. North J. said. "I do not think it would be right to insert any special directions in the order; this is not the proper time for giving such directions," and that is clear enough. Then he goes on : "But I will .....

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..... uidator is always at liberty to apply to the court under the general law if he desires to do so. If the order be so construed, it cannot in my judgment offend the statute ; and I would construe the order of North J. which I have not seen, as probably having no more effect than that. But he knew a good deal more than I do in this case about the position in the liquidation. There were some special circumstances in In re Commercial Bank of South Australia 33 Ch. D. 174, 178, as will appear from a perusal of the judgment. I have no idea whether any similar circumstances exist in the present case. I think that it is better to trust the official receiver to make an application to the court if and when he thinks it is desirable rather than fet .....

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