This is new. It was recommended by our committee. The reasons for it are obvious. If liquidation is taking an unduly long time, the public ought to be in a position to know what is happening
SECTION 306.
Question proposed : " That Section 306 stand part of the Bill."
If this is new, under what authority does the Registrar at present write to the liquidator to know what progress is being made?
Under Section 311 the Registrar has power to strike a defunct company off the register. Subsection (4) of Section 311 deals with winding up in particular.
Is this the law at the moment?
Section 306 is not but Section 311 is.
Section 306 is not the law at the moment?
Section 306 is new but Section 311 to which I referred is existing law.
Is it intended to prescribe by regulation or is this a matter for the registrar to prescribe?
It is a matter for the courts. Again I refer to Section 312 which I mentioned previously.
It is the Rule Making Committee?
Yes.
Question put and agreed to.