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Contents (1970 - 01)
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Supreme Court Rules 1970
Current version for 8 December 2017 to date (accessed 25 June 2019 at 13:46)
10   Reduction of capital (s 123)
cf CR 1968, r 31.
(1)  This rule applies where, on an application for an order under section 123 (5) of the Code, the Court fixes a date under section 123 (3) (a) of the Code.
(2)  Within seven days after the date fixed under section 123 (3) (a) of the Code, the Company shall:
(a)  make out a list of creditors, and
(b)  file an affidavit in Form 127 verifying the list.
(3)  Copies of the list shall be kept at the registered office of the Company and be available for inspection there at all times when the office is required to be open and accessible to the public.
(4)  Within seven days after the date of filing the affidavit under subrule (2) (b), the Company shall:
(a)  publish once in the Government Gazette and once in a prescribed newspaper a notice in Form 126, and
(b)  serve on each creditor whose name is entered on the list mentioned in subrule (2) (a) a notice in Form 128.
(5)  Within seven days after the expiry of the time fixed by the Court for creditors to send particulars of their claims to the solicitor for the Company, the Company shall file an affidavit in Form 129.
(6)  Where the Company contends that a person is not entitled to be entered on the list or disputes the amount of a debt or claim claimed by a person, the Company shall, unless the Company is willing to appropriate, as the Court directs, the full amount of the debt or claim, serve on the person a notice in Form 130.
(7)  The Court may, on the adjudication of claims:
(a)  allow any claim and fix the amount allowed,
(b)  direct that any claim be investigated in such manner as the Court thinks fit,
(c)  require any claimant to furnish particulars or evidence of his claim or produce any security relating to his claim, or
(d)  disallow any claim.
(8)  Where a claimant does not comply with a notice served on him under subrule (6), the Court may disallow his claim.
(9)  In subrules (7) and (8), claim includes part of a claim.