WINDING UP UNREGISTERED COM PANIES. The Companies Consolidation) Act, 1908, makes provisions regarding the winding up of unregistered companies. The expression " unregistered company " does not include a company registered under the Joint Stock Companies Acts, or the Com panies Act, 1862, or the Companies (Con solidation) Act, but includes any partner ship, association, or company consisting of more than seven members, and any trustee savings bank certified under the Trustee Savings Bank Act, 1863, and any limited partnership.
All the provisions of the Companies Con solidation) Act, 1908, with respect to winding up shall apply to an unregistered com pany, with the following exceptions and additions : (1) An unregistered company shall, for the purpose of determining the Court having jurisdiction in the matter of winding up, be deemed to be registered where its principal place of business is situate.
(2) No unregistered company shall be wound up under this Act voluntarily or subject to supervision.
(3) The circumstances in which an un registered company may be wound up are as follows (that is to say) : — (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.
Section 268. s.s. (3, provides that : " 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, 1887, as well as by any person authorised under the other pro visions of this Act to present a petition for winding up a company." (See COMPANIES.)