Hong Kong Ordinances

TRADE UNIONS ORDINANCE - SECT 16

Closure of liquidation on appointment of liquidator by Registrar

Where a liquidator has been appointed under section 14 for the liquidation of
a registered trade union the registration of which has been cancelled, then,
notwithstanding anything contained in the rules of the trade union-

(a) all of the funds (including welfare funds, if any) and assets of what
description soever belonging to the trade union shall be realized and
converted into money and shall be applied first to the cost of the
liquidation, then to the discharge of the liabilities of the trade union, then
to the payment of share capital, if any, and then in such manner as may be
provided by the rules of the trade union or, failing provision therefor, in
such manner as the Registrar may direct;

   (b)  when the liquidation of the trade union has been closed and any
        creditor thereof has not claimed or received what is due to him under
        the scheme of distribution, notice of the closing of the liquidation
        shall be published in the Gazette, and all claims against the funds of
        the trade  union shall be prescribed when 2 years shall have elapsed
        from the date of such publication; (Amended L.N. 20 of 1979)

   (c)  any surplus remaining after the application of the funds to the
        purposes specified in paragraph (a) and the payment of any claims
        under paragraph (b) shall be paid into the general revenue of Hong
        Kong. (Amended 47 of 1988 s. 3)