{\rtf1\adeflang1025\ansi\ansicpg1252\uc1\adeff37\deff0\stshfdbch0\stshfloch37\stshfhich37\stshfbi0\deflang1033\deflangfe1033\themelang1033\themelangfe0\themelangcs0{\fonttbl{\f0\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}
{\f1\fbidi \fswiss\fcharset0\fprq2{\*\panose 020b0604020202020204}Arial{\*\falt Helvetica};}{\f3\fbidi \froman\fcharset2\fprq2{\*\panose 05050102010706020507}Symbol;}{\f34\fbidi \froman\fcharset0\fprq2{\*\panose 02040503050406030204}Cambria Math;}
{\f37\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0502020204030204}Calibri;}{\f38\fbidi \fswiss\fcharset0\fprq2{\*\panose 020b0604030504040204}Tahoma;}
{\flomajor\f31500\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}{\fdbmajor\f31501\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}
{\fhimajor\f31502\fbidi \froman\fcharset0\fprq2{\*\panose 02040503050406030204}Cambria;}{\fbimajor\f31503\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}
{\flominor\f31504\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}{\fdbminor\f31505\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}
{\fhiminor\f31506\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0502020204030204}Calibri;}{\fbiminor\f31507\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times};}
{\f336\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}{\f337\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}{\f339\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}
{\f340\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}{\f341\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}{\f342\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}
{\f343\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}{\f344\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}{\f346\fbidi \fswiss\fcharset238\fprq2 Arial CE{\*\falt Helvetica};}
{\f347\fbidi \fswiss\fcharset204\fprq2 Arial Cyr{\*\falt Helvetica};}{\f349\fbidi \fswiss\fcharset161\fprq2 Arial Greek{\*\falt Helvetica};}{\f350\fbidi \fswiss\fcharset162\fprq2 Arial Tur{\*\falt Helvetica};}
{\f351\fbidi \fswiss\fcharset177\fprq2 Arial (Hebrew){\*\falt Helvetica};}{\f352\fbidi \fswiss\fcharset178\fprq2 Arial (Arabic){\*\falt Helvetica};}{\f353\fbidi \fswiss\fcharset186\fprq2 Arial Baltic{\*\falt Helvetica};}
{\f354\fbidi \fswiss\fcharset163\fprq2 Arial (Vietnamese){\*\falt Helvetica};}{\f676\fbidi \froman\fcharset238\fprq2 Cambria Math CE;}{\f677\fbidi \froman\fcharset204\fprq2 Cambria Math Cyr;}{\f679\fbidi \froman\fcharset161\fprq2 Cambria Math Greek;}
{\f680\fbidi \froman\fcharset162\fprq2 Cambria Math Tur;}{\f683\fbidi \froman\fcharset186\fprq2 Cambria Math Baltic;}{\f684\fbidi \froman\fcharset163\fprq2 Cambria Math (Vietnamese);}{\f706\fbidi \fswiss\fcharset238\fprq2 Calibri CE;}
{\f707\fbidi \fswiss\fcharset204\fprq2 Calibri Cyr;}{\f709\fbidi \fswiss\fcharset161\fprq2 Calibri Greek;}{\f710\fbidi \fswiss\fcharset162\fprq2 Calibri Tur;}{\f713\fbidi \fswiss\fcharset186\fprq2 Calibri Baltic;}
{\f714\fbidi \fswiss\fcharset163\fprq2 Calibri (Vietnamese);}{\f716\fbidi \fswiss\fcharset238\fprq2 Tahoma CE;}{\f717\fbidi \fswiss\fcharset204\fprq2 Tahoma Cyr;}{\f719\fbidi \fswiss\fcharset161\fprq2 Tahoma Greek;}
{\f720\fbidi \fswiss\fcharset162\fprq2 Tahoma Tur;}{\f721\fbidi \fswiss\fcharset177\fprq2 Tahoma (Hebrew);}{\f722\fbidi \fswiss\fcharset178\fprq2 Tahoma (Arabic);}{\f723\fbidi \fswiss\fcharset186\fprq2 Tahoma Baltic;}
{\f724\fbidi \fswiss\fcharset163\fprq2 Tahoma (Vietnamese);}{\f725\fbidi \fswiss\fcharset222\fprq2 Tahoma (Thai);}{\flomajor\f31508\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}
{\flomajor\f31509\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}{\flomajor\f31511\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}
{\flomajor\f31512\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}{\flomajor\f31513\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}
{\flomajor\f31514\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}{\flomajor\f31515\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}
{\flomajor\f31516\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}{\fdbmajor\f31518\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}
{\fdbmajor\f31519\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}{\fdbmajor\f31521\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}
{\fdbmajor\f31522\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}{\fdbmajor\f31523\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}
{\fdbmajor\f31524\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}{\fdbmajor\f31525\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}
{\fdbmajor\f31526\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}{\fhimajor\f31528\fbidi \froman\fcharset238\fprq2 Cambria CE;}{\fhimajor\f31529\fbidi \froman\fcharset204\fprq2 Cambria Cyr;}
{\fhimajor\f31531\fbidi \froman\fcharset161\fprq2 Cambria Greek;}{\fhimajor\f31532\fbidi \froman\fcharset162\fprq2 Cambria Tur;}{\fhimajor\f31535\fbidi \froman\fcharset186\fprq2 Cambria Baltic;}
{\fhimajor\f31536\fbidi \froman\fcharset163\fprq2 Cambria (Vietnamese);}{\fbimajor\f31538\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}{\fbimajor\f31539\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}
{\fbimajor\f31541\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}{\fbimajor\f31542\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}
{\fbimajor\f31543\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}{\fbimajor\f31544\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}
{\fbimajor\f31545\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}{\fbimajor\f31546\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}
{\flominor\f31548\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}{\flominor\f31549\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}
{\flominor\f31551\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}{\flominor\f31552\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}
{\flominor\f31553\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}{\flominor\f31554\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}
{\flominor\f31555\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}{\flominor\f31556\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}
{\fdbminor\f31558\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}{\fdbminor\f31559\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}
{\fdbminor\f31561\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}{\fdbminor\f31562\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}
{\fdbminor\f31563\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}{\fdbminor\f31564\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}
{\fdbminor\f31565\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}{\fdbminor\f31566\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}{\fhiminor\f31568\fbidi \fswiss\fcharset238\fprq2 Calibri CE;}
{\fhiminor\f31569\fbidi \fswiss\fcharset204\fprq2 Calibri Cyr;}{\fhiminor\f31571\fbidi \fswiss\fcharset161\fprq2 Calibri Greek;}{\fhiminor\f31572\fbidi \fswiss\fcharset162\fprq2 Calibri Tur;}
{\fhiminor\f31575\fbidi \fswiss\fcharset186\fprq2 Calibri Baltic;}{\fhiminor\f31576\fbidi \fswiss\fcharset163\fprq2 Calibri (Vietnamese);}{\fbiminor\f31578\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times};}
{\fbiminor\f31579\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times};}{\fbiminor\f31581\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times};}
{\fbiminor\f31582\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times};}{\fbiminor\f31583\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times};}
{\fbiminor\f31584\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times};}{\fbiminor\f31585\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times};}
{\fbiminor\f31586\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times};}}{\colortbl;\red0\green0\blue0;\red0\green0\blue255;\red0\green255\blue255;\red0\green255\blue0;\red255\green0\blue255;\red255\green0\blue0;
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Balloon Text;}{\*\cs57 \additive \rtlch\fcs1 \af38\afs16 \ltrch\fcs0 \f38\fs16\lang1033\langfe1033\langnp1033\langfenp1033 \sbasedon10 \slink56 \slocked \ssemihidden \styrsid6775536 Balloon Text Char;}{
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COMMISSIONER OF INLAND REVENUE}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid8144447 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13975883 {\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 v}{\rtlch\fcs1 
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\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13975883 {\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 A.N.Z. BANKING GROUP}{
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\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid13975883 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Speight, V.P., Roper J.A.,}{
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\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Date of Hearing: 13 M}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ar}{\rtlch\fcs1 
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\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (Company Law}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{
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\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ered}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770 {\field{\*\fldinst SYMBOL 45 \\f "Symbol" \\s 12}{\fldrslt\f3\fs24}}}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 winding up order}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770 {\field{\*\fldinst SYMBOL 45 \\f "Symbol" \\s 12}{\fldrslt
\f3\fs24}}}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 pri}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ority as }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 between}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 mortgage}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and chargee}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770 {\field{\*\fldinst SYMBOL 45 \\f "Symbol" \\s 12}{\fldrslt\f3\fs24}}}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 priority}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  over so called 'Sta}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 utory trus}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 t m}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 oneys}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 ' }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770 {\field{\*\fldinst SYMBOL 45 \\f "Symbol" \\s 12}{\fldrslt\f3\fs24}}}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 whether there was }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 tru}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ly a tr}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 u}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 st fund.) 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 M. J. Scott}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  for the Appellant 

\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 B. C. Patel}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  for the Respondent. 

\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Appeal against a decision of the Supreme Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 whereby}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  there was granted to the respondent (Bank):}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770 {\field{\*\fldinst SYMBOL 45 \\f "Symbol" \\s 12}{\fldrslt\f3\fs24}}}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid6650534 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "1.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid8144447\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Declaration that Mortgage 127411 held }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 the Bank constituted a first charge on the mortgaged property in priority to (other) charges. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid8144447 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6894226\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid6650534 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid8144447\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
Order that the Commissioner of Inland Revenue was not entitled to the sum of $75,000 (see below) paid by the Bank to the Commissioner on 12 January 1983. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6650534 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid6650534 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 3.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid8144447\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 that}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the Commissioner pay interest on the $75}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 000 at a rate of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 $13.5}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 0}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  p.a. from 12 January }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 1983}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  until the sum was refunded.
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6650534 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid6650534 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 4.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid8144447\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The costs of the action. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par The Bank was re}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 istered as mort}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ee }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  leasehold estate of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  S}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 unlover Hotel Limited (the Comp}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny) of 9 acres}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 3}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 roods 33 perche}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 s }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 situate in the Tikina of Nadi. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 mortgage}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was re}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 istered with the Re}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 istrar }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of Titles}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  on 5 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1973. On 14 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 February}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1973}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770  particular}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770  charge crea}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ted }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  it were registered in the office of the }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Registrar}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of Companies. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The mortgage }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 was}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a first charge upon the estate of the company in the land. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 7 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1979 the Commissioner registered against the company's interest in the land a charge pursuant to S.75(6) of the Income Tax Act 1974 for the sum of $27,783.62. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 19}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1397895\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 June 1980 the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Commissioner caused}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to be registered a charge pursuant to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
S.76(6) of the Income Tax Act 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 978. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
On 20 February 1981 the Commissioner obtained an order from the Supreme Court authorising the sale of the property to satisfy the charges. No sale pursuant thereto was ever made. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 22 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1982 one Paul Narvey Quinn filed a petition to wind up the Company. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 9 July an order of winding up was made. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In 1982 the Bank in exercise of the power of sa}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 le in its mortgage sold the com}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 pany}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s interest in the land to Colony Club (Fiji) Limited. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 30 December 1982 a Transfer giving effect to the sale was executed. This transfer is the subject of litigation referred to below. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par O}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 n 3 January 1983 the Transfer (supra) was registered. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Commissioner considered}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the charges it had }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 over the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company's interest in the land took priority over the Bank's mortgage. Prior to registration }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Transfer (supra) the Commissioner agreed with the Bank that on payment to him of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 $75,000 by the Bank he would cause satisfactions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  cha}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 rges to be entered on the Regis}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ter; further that the priority question would be litigated and the destination of the $75,000 was to be determined therein. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 9 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 September}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 1983}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the Bank took out a summons seeking orders following which the decision referred to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 above}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 made}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The learned Judge in the Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 b}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 elow granted the relief sought though with minor variations to what}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 was originally sought in paragraphs 2 and 3. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The Commissioner contended in that hearing and on this appeal that the transfer of 30 December 1982 (supra) was by virtue of the provisions of S.}
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 72 of Companies Ordinance (Cap. 216}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6894226\charrsid10436770 \endash }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 1967}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6894226\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Edn}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) void in that it was a disposition }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property of the Company made after the commencement }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up which disposition }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 h}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ad not been validated by order of }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Court}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  S. 172 provided:-
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid1397895 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "In a winding up }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the Court any disposition }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Company made after the commencement of the winding up unless the Court otherwise orders shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e void}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 ."}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The primary meaning }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 se words was of the widest import. They have to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e read down}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  since the main }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 business}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  liquidator is to dispose }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 property of the Company. Such power was not dependant for its validity on the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 approbation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e found in S.190(2)(}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) of (Cap. 216) thus:-
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid1397895 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 "}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The liquidator in a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 inding-up }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the Court shall have power to sell the real and personal property and things in action }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Public}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Auction }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 or private}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  contract}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  with }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 power to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 transfer the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  whole }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 thereof to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  any person ..... '" 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
The final contention of the Commissioner referred to amounts in respect of which two charges may have been registered. These were for PAYE tax deducted by the Company but not paid to the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Commissioner and amounts payable by the Com}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 pan
y pursuant to the Hotel Turnover Tax (Cap. 20}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 2) S.9 inserted on 25 June 1981}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . The relationship between the Company and the Commissioner was that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
of trustee}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and cestui que trust. Reference was made to S.4}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 0}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) of the Bankruptcy Act. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 It was submitted that because }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the
}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  'trust' provisions in S.82 and its counterpart in the Hotel }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Turnover Tax}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 and the Bankruptcy rules the charges registered in respect of sums referred to in S.76(3) took priority over the bank's mortgage. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
The contrary argument was that a failure to account for PAYE tax did not give rise to a charge under S.76(3) because the Company was not (to quote the words of the section) "the person liable to pay the same". 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Also failure to pay Hotel Turnover tax may give rise to such a charge. But at the time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of registration}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  present charges i.e. 7 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 1979, 18 June 1980, there was no trust provision in force in respect of such a tax. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Held}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
: Coincidental with the power conferred by S.190(2)(}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) above there is withdrawn }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 power of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Directors }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Company. (See }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Farrows Bank Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
. (1921) 2 Ch. 173). It followed that after making of the winding up order the Directors are deprived of power to make dispositions but the liquidator has such power without the imprimatur of the Court. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The assets in winding up were (subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the rights }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of secured}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 creditors}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and other specific types }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of creditors}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  entitled to be paid in priority) in trust for the benefit }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of all}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  creditors and to be distributed equally. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The words 'the commencement }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up' in S.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 1}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 72, }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 having}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 regard to S.174, refer to the same time as the presentation of the petition.' S. 172 therefore applies to the period between the time of presentation of the petition and the date of the winding up order. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Disposition}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Company's property during such period are void unless the court otherwise }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . It }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 follows}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that the transfer executed on 30 December 1982 (and therefore subsequent to the winding up order) did not come within the purview of S.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 72. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 See e.g. decisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 relating}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to (the original) S.153 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Companies Act 1863 and authorities}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 ;}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in particular }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Clifton}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Place Garage }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 Limited}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1977) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Ch. 477 per Megarry}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770  J.,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ; }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Krex}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ile Holdings P}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y Ltd. }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . Wi}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ddow}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10436770 (1974) V}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 R 689 per Gillard}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  J. refer}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ring to Companies Act 1961 S.}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 227}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (Australia). 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par Further the rights of an (al}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ready) secured creditor over the secured property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Company in liquidation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 are}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  independent }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  liquidator. That creditor's rights }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 are}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  not to be read down by any resort to S.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 72. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par See Companies Ordinance (Cap. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 216) S.257}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Bankruptcy Act (Cap. 48) S.9. See authorities including }{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Strong v. Caryle Press}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 (1893) 1 Ch. 268 per Kay L. J. and Lindley }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 L.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J. at p. 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 7}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 4}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12062746\charrsid10436770 and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 276}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 respecti}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 v}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 l}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Aro Co. L}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 d}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10436770 . (1980) 1 All E}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 R }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 10}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 67. The same applie}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 d}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to a mortgage as to a charge. See }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In re Asiatic Electric P}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y. Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 (1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10436770 970) 2 NSWLR}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  612 at p.614 per Street J. (as he then was); per Helsham C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 .}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J. in Eq. in }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Maqa}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4796152\charrsid10436770 rt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  P}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y Limited (in liq.) v. Westpac Banking Corp}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ora}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tion & Anor}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10436770 . (1884) 2 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10436770 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  709. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The further contention that relevant 'statutory trust money' did not enjoy priority }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 over the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Bank's debt was answered by authorities which support that taxing statute ought not to be construed as making inroads into the ordinary rights }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  subject to the absence }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 or a}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  clear intention so to do. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The so called 'trust provisions' in S.82 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Income Tax Act (Cap. 201) are not a 'priority' section but merely protect from distribution or attack}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a fund actually or notionally set aside.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  If there}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was no such fund}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  no question of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  trust arises}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . There is no reference in the charging provisions of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 S.76 to the charge having priority over existing mortgages and incumbr}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nces. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 A failure to account for PA}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid204166\charrsid10436770 Y}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 E tax does not give rise to a charge under S.76(3) because the Company was not "the person liable to pay the same". 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Although failure to pay (to the Commissioner) Hotel Turnover Tax may give rise to such a charge}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  at the time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  registration }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  present charges}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  there was no trust provision in force in respect of such tax. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Appeal dismissed. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Cases referred to: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Farrows B}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ank}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1921) 2 Ch 173}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Hawki}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1928451\charrsid10436770 n}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s v Gathercole}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  6 DM & GJ (p}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1928451\charrsid10436770  20).}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid1928451\charrsid10436770 In re Oriental Inland Steam }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Co}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang9\langfe2057\langnp9\langfenp2057\insrsid1928451\charrsid10436770 (1874) LR 9 LRCh App }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1928451\charrsid10436770 557.}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid12014518\charrsid10436770 Wiltshire Iron Co; ex parte Pearson}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 (1868) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 3 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 RCh App 443}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In re Park Ward & Co}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10503888\charrsid10436770  }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (1926) 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770  C}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 h 828}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Miles Aircraft Ltd Application }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 of B}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 are}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 lays}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1948) Ch 188. 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 R}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
e Clifton Place Garage Limited}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang9\langfe2057\langnp9\langfenp2057\insrsid12014518\charrsid10436770 [1970] Ch }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 477. 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Wiltshire Iron Co}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770 ; e}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 x Pa}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12014518\charrsid10436770 rt}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e Pearson}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang9\langfe2057\langnp9\langfenp2057\insrsid14707717\charrsid10436770 (1868) LR 3 LRCh App 443.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid14707717\charrsid10436770 Re Dittmer Gold Mines Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang9\langfe1033\langnp9\insrsid14707717\charrsid10436770 
 (No 3) [1954] St RQd 275}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Krextile Holdings Pty L}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770 t}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 d v Widdows; re Brush Fabrics Pty Lt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770 d }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770 [1974] V}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 R 689}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770 Re Securitibank L}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 td}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid14707717\charrsid10436770  [1980] 2 NZLR 714.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Leng}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1895)}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid8658352\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 11 Ch 652. 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Da}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid8658352\charrsid10436770 v}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 id Lloyd & Co}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1877) 6 Ch D 339. 
\par (1978) 8 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid14819654\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 h D 150. 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Stro}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid14819654\charrsid10436770 n}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 g v Carlyle Press }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (1893) 1 Ch 26}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid14819654\charrsid10436770 8.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid1329318\charrsid10436770 Re Aro Co Ltd }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang9\langfe1033\langnp9\insrsid1329318\charrsid10436770 [1980] 1 All ER }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang9\langfe1033\langnp9\insrsid16413071\charrsid10436770 to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang9\langfe1033\langnp9\insrsid1329318\charrsid10436770 67}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang9\langfe1033\langnp9\insrsid1329318\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid1329318\charrsid10436770 Sowman v David Samuel Trust Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang9\langfe1033\langnp9\insrsid1329318\charrsid10436770 
 [1978] 1 WLR 22}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid3305122\charrsid10436770 Re Asiatic Electric Co Pty Ltd}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid3305122\charrsid10436770  }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang9\langfe2057\langnp9\langfenp2057\insrsid3305122\charrsid10436770 (1970) 2 NSWR 612.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang9\langfe1033\langnp9\insrsid8086245\charrsid10436770 Re Margart Pty Ltd (in liq); Hamilton v Westpac Banking Corporation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1984) 2 ACLC 7}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3305122\charrsid10436770 09.
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Arnold Tradi}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid8086245\charrsid10436770 n}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 g Co Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1983) NZLR 445 (CA). 

\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Re Westmoreland Box Co Ltd (in liquidation), Crawshaw v Commissioner of I}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 and Revenue}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1968) NZLR 826 (CA). 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \scaps\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10436770\charrsid10436770 SPEIGHT}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  V}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 P.:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid10052260 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Judgment of the Court

\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 At }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 all}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  material times the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 respondent was}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  registered as mortgagee }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  leasehold estate }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 of Sunlo}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13918527\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 er}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Hotel Limited (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13918527\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the Company") in a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13918527\charrsid10436770 parcel}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 of land}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  containing 9 acres 3 roods 33 perches situate in the Tikina }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 of Nadi}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The mortgage was registered with the Registrar}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770  }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Titles on 5th }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 , 1973 and particulars }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  charge created by it were registered in the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 office }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Registrar }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 of Companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  on 14th }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 February}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1973. Original}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 l}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y the mort}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 gage secured $500,000 but by 31}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
st December, 1976 it had been upstamped to secure $625,000. The}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 mortgage was a first charge upon the estate of the company in the land. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 7th }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1979 the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 appellant}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  caused to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
e registered against the company's interest in the land a charge pursuant to section 75(6) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Income Tax Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7940227\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1974. The amount of the charge was $27,783.62. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 19th June}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1980}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the appellant caused to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7940227\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e registered a charge pursuant to section 76(6) of the Income Tax Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7099238\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1978. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 20th February}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1981 the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 appellant}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 obtained an}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order of the Supreme Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 authorising the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sale }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property to satisfy the charges but no sa}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13918527\charrsid10436770 l}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e in pursuance of the order was ever made. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 22nd }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9399464\charrsid10436770 March}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 1982 one Paul Harvey Quinn filed a petition to wind up the company and an order for winding up was made on 9th July, 1982. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In 198}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7940227\charrsid10436770 2}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the respondent}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in exercise }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  power}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 sale contained in its mortgage, sold the company's interest in the land to Colony Clu}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (Fiji) Limited.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The transfer giving effect to the sale was executed on 30th }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 December,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  198}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7940227\charrsid10436770 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and registered on 3rd January}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1983. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The appellant took the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 view that}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the charges it had }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 over the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company's interest in the land took priority over the respondent's mortgage. Prior to the registration }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 transfer the appellant entered into an agreement with the respondent that on}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  payment to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  him of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  $}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 75}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 000 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 by the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  respondent he would cause satisfactions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  charges to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e entered on the register.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  I}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 t was further agreed that the priority question would }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 b}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e litigated and that the destination of the $75}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 000 would }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e determined }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  such litigation. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 On 9th }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 September}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 1983 the respondent extracted a summons seeking: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3364048\charrsid10436770 1. }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 declaration}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that Mortgage 127411 constituted a first charge on the mortgaged property in priority to the charges. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3364048\charrsid10436770 2. }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 An order that the defendant refund to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
plaintiff the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sum of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770  }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 $75}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 000 paid }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the plaintiff to the defendant on 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid11801181\charrsid10436770 2}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 th January}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid11801181\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1983. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3364048\charrsid10436770 3. }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 An order that the defendant pay interest on the $75}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 000 at the rate of $13.50 per centum per annum from the 12th day }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 of January,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 1983}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  until the said sum is refunded. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3364048\charrsid10436770 4. }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The costs of the action. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par In the court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 below,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 the learned Judge granted the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 relief sought}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  save that instead }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13526256\charrsid10436770 of orders}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  for payment as prayed in par}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7288227\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 graphs 2 and 3 he made}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7288227\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 declaration that the appellant was not entitled to the $75}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7288227\charrsid10436770 ,000}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and that the respondent was entitled to interest as claimed. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid7288227\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The appellant contended in this Court and in the court below that the transfer executed by appellant on 30th December}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1982 was}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  by virtue of the provisions of section 172 }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Companies Act (Cap. 216)}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  void in that it was a disposition }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Company made after the commencement }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 winding up which had not been validated by order of the Court. Section 172 provides: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"In a winding up by the court any disposition }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property of the company made after the commencement of the winding up}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13386079\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unless the court otherwise orders, shall be void.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par If the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  words of the section are construed in their primary meanings they are of the widest import and are applicable }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  entire duration }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up and to each and every disposition of property ma}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 d}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
e during its currency. And they would apply to each and every disposition the liquidator was minded to make during the currency of the liquidation. That}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 of course}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 , cannot be. The prime business of the liquidator is to dispose }
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Company. His }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 power to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 do so is express and it is not dependant for its validity on the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 approbation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the Court. It is to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e found in subsection 2(}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) of section 190 (Cap. 216) which provides: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"The liquidator in a winding-up }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 the court shall have power 'to sell the real and personal property and things in action }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company in public auction or private contract}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  with power to transfer the whole thereof to any person or company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or to sell the same in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid7940227\charrsid10436770 parcels}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 '." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Coincidental with this conferment of power is the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ithdrawal of power of the directors of the Company}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  - }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Farrows Bank Ltd}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . (1921) 2 Ch. 173. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 It accordingly follows that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 after the
}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  making }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 order the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  directors are }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 bereft}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of power to make dispositions but the liquidator has power so t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 o}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  do without the imprimatur }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Court. There is thus major limitation to the meaning of the section when its words are construed in their primary meaning and}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ccordingly recourse must }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13657485\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e had to other means of disc}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 erning the intentions of Parlia}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ment. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Lord Wren}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ury in the Viscountess Rhondda's claim (1922) 2 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 C}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  339 at p.397 had this to sa}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 y}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 : 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"In construing the Act it must }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
e borne in mind}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of course}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that complete }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 generality}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  is not }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 necessarily}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to be }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 attributed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 general}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  words. The limitations }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 u}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 pon a p}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 r}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 oposition of that kind are best found i}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the masterly judgment of}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Turner L. J. in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Hawkins }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . Ga}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 hercole}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  6 D.M. & G.1 (p.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13657485\charrsid10436770 20}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
). The dominant purpose in construing a statute is to ascertain the intent of the legislature}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and this ma}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  be done in a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y one of three ways. First }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  considering the cause and necessity of the Act. Secondly}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  comparing one part }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Act with another}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  thirdly (and this is most indefinite) sometimes }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  foreign (meaning extraneous) aids so far as they can justly be considered to throw light on the subject." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The "cause and necessity" }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 of section}
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  172 is readily apparent. The assets in writing up are (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to the rights of secured creditors and certain oth}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 r creditors) to }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e paid in priority) in trust for the }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 benefit}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of all}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  creditors a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nd must }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 be}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  distri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ed upon this footing }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 of equality \endash  }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 re }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Orie}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 nt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 al Co.}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  ex pa}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 rt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e S}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 c}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 inde Rai}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 lw}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ay Co}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . (1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 87}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 4) 9 Ch.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 App. 557 at 559. The purpose of the section is the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 bett}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 er to achieve these ends. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The point }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 of time}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  connoted }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 by the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  words "the commencement }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up" in the section is}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  virtue of the provisions of section 174 the same as "the time of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  pre}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 sentation of the petition". 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Section 174 provides: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "(1)}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13586197\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Where, before the presentation }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition for the winding up }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770  com}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 pany by the court}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a resolution has been passed for the voluntary winding up}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the winding up shall be deemed to have commenced at the time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  passing of the resolution}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and unless the court}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  on proof of fraud or mistake, thinks fit otherwise to direct}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 all proceedings taking in the voluntary winding up shall be deemed to have been validly taken. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (2)}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13586197\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
In any other case, the winding up of a company by the court shall be deemed to commence at the time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  presentation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition for the winding up." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Section 172 accordingly applies to the period between the time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 of presentation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the petition and the date }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  making }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 winding up order with the result that dispositions of the Company's property including chores in action during such period are void unless the Court otherwise orders. And indeed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 , the original provi}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 sion section 153 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Companies Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid11998238\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 1863 (U.K.) expressly limited its operation to dispositions made between the happening }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 of those}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  events. And Lord Cairns L.J. in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Wiltshire Iro}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Company}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1868) LR Ch. App. 443 at p.446 described the provision as "a wholesome and necessary provision}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to prevent}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4944219\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  during the period which must elapse before a petition can be heard, the 
}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 improper alienation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and dissipation 
}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 property of a company in extremis. In the cor}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 responding provision in the Com}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 panies (Consolidation) Act, 1908 (Section 205(2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ))}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the temp}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ora}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 l provision was altered merely to read "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 after the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  commencement }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up ..." and the same wording is to be found in the corresponding section in this country now under consideration. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The original section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
(section 153 of the 1863 Act) a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
nd the present section each have the same commencement point in time. The original section enured until the date of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 m}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 aking }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the present section is silent on that aspect. But with the director powers ceasing and the liquidators powers commencing from the date of the making }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  we think that notwithstanding the difference in the wording in the t}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 o sections}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 there is a strong likelihood that each has reference only to the period }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 between}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  filing }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition and the date }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up. And}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 if that}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e so}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the transfer}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  having }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 een executed su}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 sequent to the winding up order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 , }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 does not come within the purview }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section. We ar}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  fortified in that tentative }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 v}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 iew }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  reference to the following cases:}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 In}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  re Park Ward & Co}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . (1926) 1 Ch. 828 in which }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 Romer }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J. treated section 153 o}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 f }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the original Act and section 205(2) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1908 Act as }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 eing to the same effect}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Miles Aircraf}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  L}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 d}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15544944\charrsid10436770 ,}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Application of B}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ar}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 lays Bank (194}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) Ch. 188 in}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 hich Vaisey J. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ascribed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to the section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 oth in its original form and its present form the same o}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In re }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 Clift}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 on Place Garage Limi}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1977) 1 Ch. 477 in which Megarry}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
. speaking of the section in its present form said (at p.482): 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"The general purpose of the section is }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 conveniently}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  stated in the classic }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 judgment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of Lord Cairns in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In re Wil}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 tshire I}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ron Co. L}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 d.}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 , Ex Parte }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Pearson }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 868}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) 3 Ch. App. 443. Speaking }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section as it originally appeared in the Act of 1862}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  he said}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  at p.446: 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }\pard \ltrpar\ql \li1430\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1430\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 '}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 The 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 53rd section no }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 doubt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  provides that all dispositions }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property and effects of the company made }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 between}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 the commencement of the winding up (that is the presentation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition) and the order for the winding up}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  shall}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unless the court otherwise orders}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e void ......}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Mr Scott drew}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 our}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  notice to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a note in St}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 rebel'}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Law}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 and Precedent}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (2nd Ed.) in which the learned author contrasting the 1908 section with the original section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 wrote}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid16022307 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 "T}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 he present section, however}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unlike the old one does not apply only between the date }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 that of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 it would}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  seem }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 that the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  court now has jurisdiction to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 uthorise }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 or validate}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  dispositions made after the winding up order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 but in pursuance }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  contract before such order}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 ."}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 No authority was cited in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
support}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  proposition which, in any event, is very tentatively advanced}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The passage we have emphasised indicates that the difference}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 if there be a difference}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 is a na}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 rro}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 w on}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 e}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . It merely relates }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 to}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
contract made within but not perfected within the period. We think that the passage tends }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 to}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  confirm that the present section relates only to transactions between the time }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 of presentation}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 and the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  date of}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the order for winding up. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16413071\charrsid10436770 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 A decision to contrary effect cited by Mr Scott is re Dittmer Gold Mines Ltd.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (No. 3) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 1954) QSR 275 in which Townley J. held that a mem}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ora}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ndum of mortgage executed }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 after the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order for winding up was a disposition }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company which fell within the scope of the Queensland equivalent }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 of section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  172. The mortgage was executed by the de}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 enture holder to}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770  itself pursuant}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to a clause in the }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 which appointed it the attorney of the company to execute in its favour "mortgages and other assurances deemed necessary for more perfectly securing the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . Indeed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the security so executed was taken to make good deficiencies in the debenture containing the power. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Townley }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 J.}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  said that he had "found no case with}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a disposition "made after the winding up order as distinct from one made }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 between}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the presentation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition and the making of the order}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and he allowed that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 uch a disposition must of necessity }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e rare. However}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  he made no attempt to construe the section and merely contented }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 himself by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sa}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 in}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that he could see no reason }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 why}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the section should not apply to such a case. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The point under consideration arose also in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Krextile}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Holdings}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 P}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 v}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Widdo}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 w}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15020565\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Brush }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 Fabrics}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Proprietary Limited}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1974) VR 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 9 in which Gillard J.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  referring to section 227 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Companies Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  1961 (which was }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 in terms identical with the pro}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
visions considered in the Dittmer Gold Mines (No.3) Case (supra))}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  had this to say at p.969: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid1192668 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 I}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  am disposed to agree with a }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 submission}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of Mr Hogg w}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 h}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 o appear}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 d for the liquidator}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that a practical interpretation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 of section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  227 should }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
e made so that the section will operate in a commercial way. The difficulty arises from the use of the expression }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 'aft}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 er the commencement of the winding up'. The reason for the introduction of these words has }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 been}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  judicially determined over a century ago}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  patently the expression must be reconciled with other provisions }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Companies Act 1}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 961 ...}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 .. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 If the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  words should }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e applied literally, there appears to }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e a commencement date }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 prescribed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 223 for the provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section to operate }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 there is no finishing date. Accordingly there is no pre-determined period of time with a commencement date and finishing date }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 during}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  which the section operates. The period is open ended. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Pursuant to section 233}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 the liquidator after the order for winding up}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  is entitled to custody or control }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company's property and it would }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e a con}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 tempt of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 court}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770  for anyone to attempt to interfere with }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4851900\charrsid10436770 his possession}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770  of the company's property ...}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
Hence, it would appear the prime purpose }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 of introducing}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the above }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 provision}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was to invalidate dispositions between the filing }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  petition which}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 233, is deemed to constitute the commencement }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up proceedings and the making of the order when, of course, section 233 would become operative. }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 But, clearly, in terms, the operation }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section would not come to an end with the making }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . I am}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  therefore}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  opinion that Dr}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Pan}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 am was quite correct when he }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 submitted}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that the legislative intention was that the provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 of such}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section continued to operate in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 any of}
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 prescribed mat}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ters during the period}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  only during the period of the winding up process. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\tx770\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Furthermore}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 227 must be read }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 to the provisions of section 236(2)(}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) which empowers the liquid;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nor to 'sell the seal and personal property and things in action }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4477687\charrsid10436770  ....}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  with }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 power to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 transfer the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  whole thereof to any person or company }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 or to}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sell the same in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4477687\charrsid10436770 parcels}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Again}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the liquidator is empowered }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 236(2)(}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 k}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) to 'do a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ll}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  such other things as are necessary for winding up the affairs of the company and distri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ing its assets'. It is true }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 236(3) the exercise }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 of such}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  powers is under the control of the court, }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unless the court is moved }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a creditor }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 or a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  contri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ory, the liquidator may}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  for the purpose }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 of exercising}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  his true powers set out }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 above,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  disregard the provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 of section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  227}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Having regard to this view }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  provisions in the Act in relation to the liquidator}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  equally in my view section 227 must }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4477687\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e read down }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to section 243." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
(Section 243 empowered the court to grant a stay of the winding up). 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 This passage throws into }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4477687\charrsid10436770 b}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 old relief the point now under consideration }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  we are disposed to the view that the learned judge}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 despite having noted several reasons within sections 236 and 243 for "reading down" the apparent open ended provisio}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s of section 227 which manifest themselves on a literal construction}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 proceeded to apply the literal construction when he held in the passage we have emphasised that "in terms" the operation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section would not come to an end with the making of the order. And in addition to our reservations we note that the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 observations}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the learned judge on the matter are clearly o}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 iter. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 W}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  do not propose to endeavour to decide the point first }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
because}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  it was not fully argued }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 b}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 efore u}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 secondly we}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  find ourselves }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 able}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to dispose }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  case on a consideration }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  point we now come to consider}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  namely}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 , }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 whether a secured creditor }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company in liquidation is}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770  independent}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  liquidation and his rights not lia}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 bl}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e cut down }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 any exercise}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 or purported}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  exercise }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 the jurisdiction}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  conferred }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 172. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Section 259 of the Companies Act (Cap. 216) provides: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 I}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 n the winding up }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 n insolvent company }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  same rules shall prevail }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 and be}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 observed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  with regard to the respecti}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ve}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  rights of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770  secured}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and u}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 nsecu}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 red creditors ...... as are in force }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 being}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  under the law of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770  b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ankrupt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y with respect to estates of persons adjudged }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ba}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nkrupt ....}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ....}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . " 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }\pard \ltrpar\ql \li284\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin284\itap0\pararsid5266104 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Section }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 9}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the Bankruptcy Act (Cap. 4}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 8)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  pr}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ov}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ides: 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5266104 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 "(1}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) On the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 making}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of a receivin}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  order the official }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 receiver}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 shall}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  there}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e constituted receiver}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  propert}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  de}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tor}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 , a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nd thereafter}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  except as d}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 i}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 r}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 cted }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 this}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Act, no creditor to whom the debtor is indebted in respect }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny debt provable in bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 shall have any remedy against}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the property}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 or}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 person of the debtor in respect of the debt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13329529\charrsid10436770 , }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 or shall commence any action or other legal proceedings unless with the leave of the court and on such terms as the court may impose. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid348567 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
(2) But this section shall not affect the power of any secured creditor to realize or}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 otherwise }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 deal with}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  his security in the same }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 m}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 anner}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 as he}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 would have been entitled to realise or deal with it if this section had not been passed." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 applicability}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  New Zealand equivalent }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 of subsection}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (2) to situations akin to the present one was considered in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
re Securitibank Ltd.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1980) 2 NZLR 714 at p. 724 where Barker J. said: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }\pard \ltrpar\ql \li284\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin284\itap0\pararsid5266104 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"The submissions of counsel for all the secured creditors proceeded on the assumption (accepted }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Mr Farmer) that section 307 of the Companies Act 1955 applied the bankruptcy rules relating to secured creditors' claims to a winding up. This assumption is quite valid}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4477687\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 consequently section 3(3) of the Insolvency Act 1967 must apply in a winding up situation." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 And indeed Mr Sco}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 tt,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in his submissions concerning the observations of the learned judge in the court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 elow concerning section 259}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  cited authority (}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Leng}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1895) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Ch. 652}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 , }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 657) for the proposition that "rules" in that section encompassed "secti
ons" of the Bankruptcy Act and allowed that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 subsection}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (2) of section 7 was of application. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Apart from this statutory provision there are a line }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 of cases}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 which in our opinion make it clear that mortgagees are persons entirely outside the purview of the wind}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 in}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 g up. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 D}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 av}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 id Lloyd}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 ,}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Lloyd}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . D}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 avid}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Lloyd}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 & Co}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . (1877) 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 h. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 D}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . 339}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ames L.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 J., }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 at p.345 said: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"A mortgagee is to my mind .... an independent person and his rights ought not to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e interfered with because his mortgagors have chosen to become insolvent ..." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par In }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re Lo}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
ngdendale Cotton Spinning Company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1978) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Ch. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 D}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . 150 at 154 Lord }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 essel M.R. said: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "The mere fact that a }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 winding up}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 order has been made makes no difference and does not confer upon the company the right of preventing a mortgagee }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 from}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  realising his security}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and for that proposition I have the authority }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ppeal in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 In}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  re D}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 avid }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Lloyd}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 &}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Co}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  an}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 authority which emphatically negatives the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 existence}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of any such righ}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 t."}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 A statement to like effect in more }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2172010\charrsid10436770 
general terms fell from Kay L. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . in 
}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 S}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 trong v. Carlyle}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  Press}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 893}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Ch. 26}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  at p.276: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"We must treat the mortgagees as }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 being}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  persons outside the winding up." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 And in the same case}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  at p.274}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Lindley L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J. said: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"The mortgagees here are prima facie the holders }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 of valid}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  mortgages}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 they claim}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  under deeds which }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 have}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 been}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  impe}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ched. On the face }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 m they are quite regular and there is no reason at present for saying that they }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 are}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in any degree invalid. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 Under these}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 circumstances the mortgagee says 'My interest is in arrear. I want a receiver'. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 If he}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  holds valid debentures and his interest is in arrear, he is entitled to a receiver, and he has got an order for a receiver.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 Now the fact that the mortgagor is a company, which h}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 as since been ordered to be wound up}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  does not in any way affect the rights }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 of mortgagees."}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (Our emphasis). 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 There are also modern statements to like effect. In }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In re}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Aro Co. Ltd.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1980) 1 All ER }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 10}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 67}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Templeman L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 . }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J. delivering the judgment }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ppeal comprising Stephenson and Brandon L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 . }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 . }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J. and himself, said: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"A secured creditor is in a position where he can justly claim that he is independent }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  liquidation since he is enforcing a right }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 not }{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 against}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the company }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 but }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  his property}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 see}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 re David Lloyd & Co. a case under the predecessor to section 231. A striking illustration }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  principle is to be}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 found in}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Re Wanser}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1891) 1 Ch. 305) under the same section. A landlord }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 of Scottish}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 property began proceedings after a winding up order for sequestration of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  the company's goods on the pre}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 mises in order to answer for future rent. North J. allowed the sequestration to continue}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 being}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  satisfied that under Scottish law the landlord was a sec
ured creditor at the date }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 of commencement}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the winding up, and therefore in th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 e same position as a mortgagee.}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 " 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
Sowman v. David Samuel Trust Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . (1978) 1 WLR 22 Goulding J. referring specifically to section 227 (which is to like effect as section
 172) had this to say: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 " ...}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ... The }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 view of}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  authorities which I }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 have just}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  stated is also fatal}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 I}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  think}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to Mr Monckton's alternative }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 submission}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that the sale }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the receiver is a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 disposition}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the company's property avoided }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 227 of the Companies Act 1948. }{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In truth the rights and p}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 owers }{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 given }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  debenture }{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 are themselves prope}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 r}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 y,}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  not prope}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 rt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company and}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  if t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 hey are n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ot}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  e}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 xt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 inguished }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 the fact}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  windi}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 g up}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  e}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 forceme}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 nt}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or exercise is}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770  not within the scope of section }{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 27 a}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 all}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ." }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (Our emphasis). 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Mr Scott sought to distinguish the English cases on the footing that whereas in the United Kingdom a mortgage }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 of land}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  i}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 volves a conveyance }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  legal estate to the mortgagee}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 in Fiji a mortgage does "not operate as a transfer of land or of the estate or interest therein}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 , charged"}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . We think that distinction is of no present moment. The authorities show that the principle enunciated in them applies with equal force to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s as to mortgages }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10052260\charrsid10436770 of land}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . It is not the nature }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property cha}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 rg}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
ed or mortgaged which is the factor which takes the transaction outside the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 ambit}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 of section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  17}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 2; }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 rather i}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 t }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 is the na}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 tu}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 re of the personal }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 property}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  made up of the powers and rights given }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the mortgage or the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  as the case may }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e. That personal property is the property of the mortgagee or of the }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  holder and the exercise }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 se powers is a use }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the mortgagee }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 of his}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 own property and not the property of the company. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 That the principle is }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 pplication in situations where a mortgage is }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a charge finds illustration in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 In}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  re Asia}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ic Ele}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ct}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ric P}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y L}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 d.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 970) 2 NSWR }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 61}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2 at p.6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 4 where Street J. said: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 " }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ..... The secured creditor has property rights}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in the form of his security that exist outside and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 above}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the winding }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 up. The}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  fact of his security and its property content}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unless }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 challengeable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  on some particular ground }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 available}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in the winding up}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  is unaffected }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the making }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 o}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 f}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 order. The}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
secured creditor has his property rights under his security. He is entitled to employ them to the total exclusion of any inroads }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the liquidator or ordinary creditors except }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 insofa
r as}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  any}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 particular}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 inroad may be authorised by a specific provision in the Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16273436\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  such as}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 for example, the provisions governing certain priorities as to wages and otherwise where the secured creditors' receiver has gone into possession under a floating charge.'" 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Maqart P}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 t}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y Limited (in}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  l}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 iq.) v. Westpac Banking Corp}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 ora}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tion & Anor}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1917355\charrsid10436770 (j}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 udgment delivered on 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 November, 1984and noted in (1984}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 )}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770 ) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  709}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Helsham C.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J, had to consider section 368 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Companies (New South Wales) Code which is ipsissima ver}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
a with section 172. And he held (p.712) that: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 whatever}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 meaning}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the word 'disposition' may have when used in the phrase 'any disposition of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company' in section 368, it does not include the process }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 which a person with a beneficial interest in the property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 obtains}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that property}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or the proceeds of its realisation, from the company at a time when he is entitled to have it. In all reality a person would not normally }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 described}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  as disposing of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  h}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 is prop}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 erty when he hands it over to a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
nother to whom he had previously promised to deliver it on the happening }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  certain event when that event }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 occurs. This}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  is only another way }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 of stating}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 in legal}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  terms the proposition that the word 'disposition'}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  when used with reference to property}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  normally has the meaning }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 of connoting}
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a change in the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 beneficial}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  ownership }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 n asset }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 trans}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 f}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 er}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 or}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 other}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 type of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 dealing. I am }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 indebted}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to the editors }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Australian Law Journal for collecting some cases on this topic (48 ALJ 4}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 0)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  see also per }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 Jacobs}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  J.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 A. in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Roache v. Australian Mercantile Loa}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 n}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  & Finance Co. Ltd.}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (No. 2) (1968) 1 NSWR 384 at p.3}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Grimwade}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 v. F.}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 C}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . of}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 T.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1949) 78 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 LR 199. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 I}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  can see no reason }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 why}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that approach should not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e adopted in relation to section 368." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 And later}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  at page 713}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the learned judge said that his decision accorded with the nationale that lies }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 behind}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section 368 and after citin}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 g}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  what he }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 rightly}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 described}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  as the locus classicus of that which is to }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e found in the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 words of Lord Cairns in }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In re Wil}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ts}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 hire I}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ro}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 n Co. Ltd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
. (1868) 3 Ch. App. 443 at p.446 which we have earlier cited in this judgment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  he went on to say: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "What lies }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 behind}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the section is the prevention }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 improper alienation and dissipation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company's property. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 I do}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 believe}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  it was intended to reach out to transactions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  which a secured creditor receives assets covered }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  his security at a time when he was entitled to have them. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6768309 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
To hold otherwise would mean that assets covered }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9183004\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 f}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ixed cha}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 rg}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or their monetary equivalent}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  could not with impunity }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e taken}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or paid to the person having the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 benefit}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 of the charge at any time after the commencement of the winding up. An}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 yth}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ing done }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the company or a receiver to pay the chargee or transfer assets to the chargee would }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e void. No }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ank or other person holding a charge under which moneys had }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ecome }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 payable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  could take payment without the precaution of}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770  obtaining}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 what is known as a validating order. I do not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 believe}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that section 3}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 68}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was intended to operate in that way. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Perhaps thi
s conclusion is only another way of stating that retrieval }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 of property t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 he }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  charge }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a chargee when he is entitled to have it is }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 not to}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e categori}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ed as a disposition }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company within the meaning of section 36}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 8.}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 " 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 
\par And further, on the same page and on page 714:
\par 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 "I}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  take the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 view that}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the phrase 'any disposition }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company' in the context of section 368 relates to something done with property that the company is free to deal with. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 I}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  do }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 not think}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that there is a disposal }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 of property}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 of the company when there is a dealing by someone who is really someone other than the company and who has the right to say how it is to be dealt w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770 ith, and whatever interest the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
company has in that property gives it no control or management }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 over the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property nor }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 power to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  interfere. The }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 control, which}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in the words of Barwick C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 . }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 J., Mason and Jacobs JJ. (}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 F.C}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 .}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 T}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 .}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  v. Barnes}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1975) 133 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 LR 483 at p.492) enables a receiver appointed under a floating charge 'to reduce the assets and undertaking }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company into a fund out }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 of which}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a particular debt or in some cases all the debts}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770  of the company, secured and un}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
secured, are to be paid }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 if the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 fund so far extends' hardly seems consonant with avoidance }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 of his}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  actions as being dispositions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 of property}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 if he}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  acts (see also }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 D.F}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 .}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 C}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 .}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 T v. A.G.C}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid395859\charrsid10436770 .}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (Advances) Ltd.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1984) 2 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 C 5}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 99}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid12338156\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (1984) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  NSWLR 29). The fact that it h}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s been deemed necessary by separate statutory provision }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 specifically}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to declare void any attachment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sequestration}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  distress or execution put in force against the property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 
of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  after the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  commencement }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  winding up by the court}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  may tend to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  lend support to this view (sec}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tion 368(3 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 )}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid1185756\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 We adopt these statements and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 hold}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  them mutatis mutandis, to express the law of Fiji. And accordingly we reject the contrary submissions advanced on behalf of the appellant. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The fourth ground }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ppeal which concerns}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  one of Mr Scott's two main argu
}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ments, reads: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "4.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6768309\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 That the 
learned Supreme Court Judge erred in law in holding that rele}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 v}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ant statutory trust moneys did not enjoy priority over Respondent's debt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and were not payable in full by the Respondent to the Appellant." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The amounts owing to the appellant in respect of which the two charges were registered were in respect of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 PAYE tax deducted }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  company from the wages of employees }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  not paid to the appellant and Hotel Turnover Tax }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 payable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the Company. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2 of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Income Tax Act Cap}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4400120\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  20}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 provides}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "All amounts deducted }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 any person pursuant to the provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 regulations}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  made under the provisions of section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 l}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 which has to do with PA}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 Y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 E tax}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 be}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  deemed to be held in trust }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  such person }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Crown and shall not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 be}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to attachment in respect }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 debt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 liability}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  said person and in the event }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny liquidation, assignment or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the said amounts shall form no part of the estate in liquidation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  assignment or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e paid in full to the Commissioner }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 efore any distri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ion }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  property is made." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 By the Hotel }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 Turnover }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Tax Act (Cap. 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4400120\charrsid10436770 0}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2) there was }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 established}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and levied a tax "on all the turnover }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 o}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4400120\charrsid10436770 f}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  hotel". The Act was amended on 25th June}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  19}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 81 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Act No. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 6 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 of that year which inserted a new section 9 which provided that: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 "All amou}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nts of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 turnover}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tax }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 payable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  any }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 proprietor of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770  a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  hotel }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 under the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  pro}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 v}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ision}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of this Act shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e deemed to have }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 been}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  collected }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  him and held in trust }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Crown and shall not be subject to attachment in respect }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ny}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  debt }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 or liability }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 such hotel }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 proprietor in}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the event }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  liquidation or bankruptcy }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  hotel proprietor,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 or}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny assignment for the benefit of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 his creditors,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 or}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 in any other event}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
and the said amounts shall not form part of the estate of the hotel proprietor in liquidation or bankruptcy or part of any such assignment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  but shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 be paid}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in full to the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 Commissioner before}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  any distribution }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of property}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  is made." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Mr Patel submitted that the hotel turnover tax which was made the subject of the charge had become due and payable before the 25th June, 1981}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 and that accordingly no statutory trust in respect of them could have arisen. Mr Scott submitted that notwithstanding the provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of section}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  9}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the essential nature }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770  relation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ship between the company and the appellant in respect }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of that}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  part }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
ny revenue received by the company which became payable as turnover tax was that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of trustee}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and cestui que trust. We accept that submission. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Mr Scott's starting point was section 259 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Companies Act, 1945 (being the Act in force at the relevant time) which provided in summary that in a winding up the same rules concerning the respective rights }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of secured}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 and unsecured creditors apply as are in force for the time being under the law }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . Although the se}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tion refers to "rules" it was common ground that the provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 of both}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ru}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ptcy Act and rules apply. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Section 40 of the Bankruptcy Act provides}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  so far as is relevant: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
"40. The property of the bankrupt divisible amongst his creditors}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and in this Act referred to as the property of the bankrupt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 ,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  shall not comprise the following particulars: 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 )}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9781283\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 property held by the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 bankrupt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  on trust for any other person:" 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 So far as PA}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 Y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 E tax is concerned the law requires th}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 mploy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 r to d}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 duct the appropriat}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  tax from th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  employees emoluments and a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 count for it to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 the Com}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 missioner. Section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2 of the Act applies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and it reads: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "All amounts deducted }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 any person pursuant to the provisions of any }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 regulations}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  made under the provisions of sections }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 81}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4400120\charrsid10436770 10}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 7 shall be }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 deemed}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e held in trust }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  such person }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Crown and shall not be }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 attachment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in respect }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny debt or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 liability}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  said }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 person}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and in the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 event}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of any liquidation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  assignment or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e said amounts shall form no pa}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 rt }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  estate in liquidation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid4400120\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  assignment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid4400120\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e p}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 id in full to the Commissioner }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 before}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  any distri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ion of the pro}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 perty is }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 made.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 " 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In the case of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  Hotel}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Turnover Tax}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  hotel }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 guest}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  is primarily }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 liable,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  it is payable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and r}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 cov}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ra}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 l}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  from the hot}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 l propri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tor. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Mr S}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 cott}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 basic}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 submission}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  was th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 t }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 be}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 caus}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the trust provisions in s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ction }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and its }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 counter}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 part in the Hotel }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 Turnover}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Tax Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the char}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ge}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 created}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 76}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (3) and later }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 registered}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 Commissioner}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  pursuant to section 7}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (6) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 take}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  priority }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 over}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 's mortgage }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 bec}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ause }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 operation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ankruptcy rules. He allowed that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 section}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  7}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3749465\charrsid10436770 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (3) would not of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 its}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 elf}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  give priority }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 submitted}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  trust provisions }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 combined}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  with that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 subsection}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 gave}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  priority "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  statutory }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 inference". M}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 r }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 Patel}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 submitted,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 we}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  agr}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ee,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that in fact a failure to account for PAYE }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 t}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ax does not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 give}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 rise}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 charge}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  under }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  76(3) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 be}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 caus}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e the company was not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  person }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 liable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 pay the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 same}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 " in t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 rms}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 that subs}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ction}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3749465\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 and although fai}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 lure to pay hotel turnover tax}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  would give rise to such a }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 harge}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  at the time of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 regi}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 stration}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  present charges t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 h}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ere was no trust provision in force in respect }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 of such}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ax. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 That aside}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 , Mr}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Scott re}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 l}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ied on two cases in support }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of his a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 rgument. The }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 first was }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 re Arnold Trading Co. Ltd }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 (1983) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 NZLR 445 (C}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 A.) in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 which}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 the question at issue was whether section 46 of the New Zealand Sales Tax Act con}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 fe}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 rred priority upon the Collector }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of Customs}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  ahead }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  holder in respect }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of tax}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  owing }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 company }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 in respect }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of goods}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sold }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  it }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 before }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 the appointment }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  holder's receiver. Mr Scott }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 submitted that }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 case to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e an authority for the proposition that statutory provisions in no material respect dissimilar to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 82}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 F}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 iji's Income Tax Act gave implied }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 absolute}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  priority to tax designated as trust mone
ys as against prior secured creditors. The section under consid}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ration in }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Arnold}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  read: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 "Appoi}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ntment of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 receiver}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e notified to Collector}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 receiver to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  provide for payment of tax-
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid9851358 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li1430\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1430\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
) Where a receiver is appointed of the property of a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 wholesaler or of a ma}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 nufacturing retailer (such wholesaler or retailer hereinafter in this section referred to as the taxpayer)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the receiver shall}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid3749465\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 within 14 days after his appoint}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  give notice }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 thereof}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li2200\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin2200\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 )}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid9851358\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In the case of a licensed taxpayer}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to the Collector for the distri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 t specified in the licence}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and 
\par (}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 )}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid9851358\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In the case of any other taxpayer}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to the Collector for any district in which the }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 business}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the taxpayer is }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 being}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  carried on}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \fi-720\li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid9851358 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li1430\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1430\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 and shall}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 before}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  disposing }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ny of the assets of the taxpayer}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  set aside out of the assets such sum as appears to the Collect}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 or to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 sufficient to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  provide for any sales tax that is }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 payable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the taxpayer and any}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770  s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ales tax that will }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ecome paya}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 le in respect }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of goods}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that have }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 been}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  sold }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the taxpayer }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 efore the appointment of the receiver}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li1430\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1430\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
Provided that the receiver may convert any of the assets of the taxpayer to cash where this is necessary for the sole purpose }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of enabling}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  him to set aside that sum. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li1430\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1430\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (2) }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 the person}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  appointed a receiver as aforesaid 
shall be liable for the payment out of the assets of the taxpayer of any sales tax that is or thereafter becomes payable as aforesaid, and, if }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 h}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e fails to comply with any of the provisions of subsection (1) of this section, }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 shall}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  also be }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 personally}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  liable for the payment of such sales tax. 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
\par }\pard \ltrpar\ql \li1430\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1430\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
(3) Where 2 or more persons }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6310094\charrsid10436770 are}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 appointed receivers of the property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ny}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  taxpayer as aforesaid}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 obligations}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and lia}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ili}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ti}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 es attach}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 i}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ng to a receiver under this section shall attach to a}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ll }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 such persons jointly and severally}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 subject}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to a right of contri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ion bet}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 een themselves as in cases of contract." 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
\par The critical issue in the case was the meaning to be given to the expression "the assets }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  taxpayer" as used in section 4}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid3749465\charrsid10436770 6}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (2) it being argued that it referred only to assets remaining in the re}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 c}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 eiver's hands after discharging the o}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 
blig}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ation under the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 debenture}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . The}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Court }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 rejected}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 submission}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  not on the ba}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 is of "t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ru}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 st" or "statutory inference }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 of priority}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 " }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 but}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  on th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  plain meaning of the words }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 hich }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ears no }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 resemblance}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 whatever to}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2. The onl}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  comment }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5917893\charrsid10436770 ny}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  assistance in the judgment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 , }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 and it does not help Mr Scott's cause}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 is that a taxing statute ought not to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 be}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  construed as making inroads into the ordinary rights of the su}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 bj}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ect in the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 absence}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of a clear intention so to do. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 The second case was }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Re}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 Westmoreland Box Co. Ltd}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 (in liquidation)}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 , }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 Crawshaw}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 v. Commissioner of Inland Revenue}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  (1968) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 NZLR }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 26 (C.A). That concerned PAYE tax and the question was wh}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ther the Commissioner on the liquidation }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 company }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 was entitled to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 receive}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unpaid tax deductions ahead of the holder of a }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 floating }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 charge. }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 
\par 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 In Westmoreland}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  the Cou}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 rt of Appeal was considering section 31 of the Income Tax }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 Assessment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 , 1957}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  which read: 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 "(1}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) The amount }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 of every}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  tax deduction made }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 under this}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Part}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770  of this}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Act shall }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e held in trust }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Cro}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and any amount so held in trust shall not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 e proper}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ty }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  employer }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 liable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to execution}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in the event }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 liquidation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  employer or of an assignment for the }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 benefit}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of the employer's creditors}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  shall remain apart}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and form no }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 part of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770  the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  estate in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 , }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 liquidation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or assi}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 gnment}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 . 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid10570662 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 
\par }\pard \ltrpar\ql \li770\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin770\itap0\pararsid11431603 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 (}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 )}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Where a tax deduction has }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid343369\charrsid10436770 been}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  made under this Part of this Act and the employer has failed to deal with the amount }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 of tax}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  deduction or an}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  part thereof in the manner required }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5774096\charrsid10436770 subsection}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 of this}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  section or the other provisions }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 of this}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Pa}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 rt of this}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Act}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 amount}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid16533154\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  tax deduction }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 for the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  time }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid10188495\charrsid10436770 being}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  unpaid to the Commissioner shall}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in the application }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  assets }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  employer upon the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 bankruptcy}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  or liquidation of the employer or upon an assignment for the }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 bene}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 fit }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  employer's creditors}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  rank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  without limitation in amount and notwithsta}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ding anything in any other Act}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  in order of priority immediately after }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 preferential}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  claims for wages or other sums }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid528051\charrsid10436770 payable}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  to or on account }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 of a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ny ser}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 vant or worker or apprentice or articled clerk}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and in priority to all other }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 cla}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ims}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 ."}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5840267 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
Mr Scott submitted that the court had held that section 31(1) which is materially the same as section 82 in the Fiji legislation would have given priority but for the provisions of section}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid15152821\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 31 (2) which has no equivalent in Fiji. We do not find }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
at to be the effect of the judgment. The Commissioner did not attempt to bring himself within section 31(1) as there had been no actual or notianal separation }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 o}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 f the moneys deducted into a trust fund. Se}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 c}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 tion 31(2) therefore became o
perative and unpaid deductions became a charge on the property of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  employer pursuant to section 32. And that charge was subject to existing mortgages an}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 d}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  encumbrances. In }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 Fiji legislation failure to deduct or pay is dealt with under section 93 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid13975883\charrsid10436770 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  Act. On failure the person liable to pay becomes liable for the amont due plus a penalt}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  as if the same were tax payable by }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 such}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  person, and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid673302\charrsid10436770 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 provisions}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  of specific sections, including section 76, apply. }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 It follows}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
 that the employer's real and personal property }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid2624598\charrsid10436770 becomes}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  chargeable. Section 93 does not provide that the trust provisions of section 82 will apply to the deductions not accounted for. In our view }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Westmorela}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 nd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 does not help the appellant's cause. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 We agree with Mr }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 Patel}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  that section 82 is not a }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 "}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 priority" section. It merely protec}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 t}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 s from distri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 b}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ution }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid6775536\charrsid10436770 or a}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 ttack a fund actually or notiona}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 ll}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 y set aside. It there is }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 no}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  such fund no question of trust arises. Section 93 then comes into play and the empoyer's property may be charged. Ther}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 e is no reference in the chargi}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
ng provisions of section 76 to the charge having priority over existing mortgages and en}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 e}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 umbrances}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 ,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  and indeed Mr Scott conceded that section 76 standing alone would not give the Commissioner priority. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 We therefore reject Mr Scott's "priority through trust" argument. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 In the result}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 ;}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770  the appeal fails and it is dismissed. The appellant is ordered to pay the respondent's costs. 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid487304\charrsid10436770 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid487304 {\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 Appeal dismissed.}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\fs24\lang2057\langfe1033\langnp2057\insrsid5840267\charrsid10436770 
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