Commonwealth Numbered Acts

COMPANIES ACT 1981 No. 89 of 1981 - SECT 384

384. (1) The Court may require any contributory, trustee, receiver, banker,
agent or officer of the company to pay, deliver, convey, surrender or transfer
to the liquidator or provisional liquidator forthwith or within such time as
the Court directs any money, property or books in his hands to which the
company is prima facie entitled.

(2) The Court may make an order directing any contributory for the time being
on the list of contributories to pay to the company in the manner directed by
the order any money due from him or from the estate of the person whom he
represents, exclusive of any money payable by him or the estate by virtue of
any call pursuant to this Act, and may-

   (a)  in the case of an unlimited company-allow to the contributory by way
        of set-off any money due to him or to the estate that he represents
        from the company on any independent dealing or contract but not any
        money due to him as a member of the company in respect of any dividend
        or profit; and

   (b)  in the case of a limited company-make to any director whose liability
        is unlimited or to his estate the like allowance, and, in the case of
        any company whether limited or unlimited, when all the creditors are
        paid in full, any money due on any account whatever to a contributory
        from the company may be allowed to him by way of set-off against any
        subsequent call.

(3) The Court may, either before or after it has ascertained the sufficiency
of the property of the company-

   (a)  make calls on all or any of the contributories for the time being on
        the list of contributories, to the extent of their liability, for
        payment of any money that 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

   (b)  make an order for payment of any calls so made, and, in making a call,
        may take into consideration the probability that some of the
        contributories may partly or wholly fail to pay the call.

(4) The Court may order any contributory, purchaser or other person from whom
money is due to the company to pay the amount due into a bank named in the
order to the account of the liquidator instead of to the liquidator, and any
such order may be enforced in the same manner as if it had directed payment to
the liquidator.

(5) All moneys and securities paid or delivered into any bank pursuant to this
Division are subject in all respects to orders of the Court.

(6) An order made by the Court under this section is, subject to any right of
appeal, conclusive evidence that the money (if any) thereby appearing to be
due or ordered to be paid is due, and all other pertinent matters stated in
the order shall be taken to be truly stated as against all persons and in all
proceedings.