Companies Act (Cap. 386)

Companies Act (Cap. 386), article 252

Official PDF on legislation.mt

252. (1) The court may, at any time after making a winding up order, and either before or after it has ascertained the suffic iency of the assets of the company, make calls on all or any of the contributories for the time being appearing on the list of contributories to the extent of their liability, for payment of any money which the court considers necessary to satisfy the debts and liabilities of the company, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, and make an order for payment of any calls so made. (2) In making a call the court may take into consideration the probability that some of the contributories may partly or fully fail to pay the call. Order of court to be conclusive evidence.

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Text read from the consolidated PDF published by Legislation Malta. Tables, figures and marginal notes may be incomplete or out of place: the official PDF is authoritative. General information, not legal, tax or accounting advice.