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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 349

1932 c.7

349.(1) Subject to the provisions of this Part, any unregistered company may
be wound up under this Act, and all the provisions of this Act with respect to
winding up shall apply to an unregistered company, with the exceptions and
additions mentioned in sub-sections (2) to (9).

(2) If an unregistered company has a principal place of business situate in
England or Scotland, it shall not be wound up under this Part unless it has a
principal place of business situate in Northern Ireland, and the principal
place of business in Northern Ireland shall, for all the purposes of the
winding up, be deemed to be the registered office of the company.

(3) No unregistered company shall be wound up under this Act voluntarily or
subject to supervision.

(4) The circumstances in which an unregistered company may be wound up are as
follows:

(a)if the company is dissolved, or has ceased to carry on business, or is
carrying on business only for the purpose of winding up its affairs;

(b)if the company is unable to pay its debts;

(c)if the court is of opinion that it is just and equitable that the company
should be wound up.

(5) An unregistered company shall, for the purposes of this Act, be deemed to
be unable to pay its debts:

(a)if a creditor, by assignment or otherwise, to whom the company is indebted
in a sum exceeding [#200] then due, has served on the company, by leaving at
its principal place of business in Northern Ireland, or by delivering to the
secretary or some director or principal officer of the company, or by
otherwise serving in such manner as the court may approve or direct, a demand
under his hand requiring the company to pay the sum so due, and the company
has for three weeks after the service of the demand neglected to pay the sum
or to secure or compound for it to the satisfaction of the creditor;

(d)if in Scotland the induci' of a charge for payment on an extract decree, or
an extract registered bond, or an extract registered protest, have expired
without payment being made;

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

(6) Subject to sub-section (7), the court having jurisdiction to wind up a
railway company under the Abandonment of Railways Act, 1850, and the
Abandonment of Railways Act, 1869, and the Acts amending them, shall be the
High Court, and the special provisions of those Acts shall apply to the
winding up.

Subs.(7) rep. by 1978 c.23 s.122(2) sch.7

(8) A petition for winding up a trustee savings bank may be presented by the
National Debt Commissioners or by a commissioner appointed under the Trustee
Savings Banks Act, 1954 as well as by any person authorised under the other
provisions of this Act to present a petition for winding up a company.

(9)[Subject to such modifications as may be made by rules of court, the
Bankruptcy Acts] (Northern Ireland), 1857 to 1933, shall apply to limited
partnerships as if limited partnerships were ordinary partnerships, and, upon
all the partners of a limited partnership being adjudged bankrupt, the assets
of the limited partnership shall vest in the assignees; and the succeeding
provisions of this Part shall not have effect in relation to a limited
partnership.[


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© 1960 Crown Copyright

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