After the People's Courthas ruled to declare the Company bankrupt, the liquidation committee shall turn over the liquidation matters to the People's Court.
Once the company isadjudged bankrupt by a ruling of the people's court, the liquidation committee shall transfer the liquidating affairs to the people's court.
Article 72 The liquidation committee shall be composed of the legal representatives of the foreign-capital enterprise,the representatives of the creditors, the representatives from the competent authorities concerned together with Chinese CPA and lawyers appointed.
The Board of liquidation is charged with and authorized to complete from the beginning till the end the liquidation transactions of the Association's money, assets and rights in accordance with the legislation.
The liquidation commission, directly or through the allocation of a special subcommission, performs a detailed audit of the operations from December 14, 1917 to the day of the final design of the branches of the national bank, in accordance with these instructions.
Upon completion of the liquidation and transfer of the money,property and rights of the Association, the liquidation Board shall notify the administrative authority of the location of the association's headquarters in a letter within seven days and the liquidation minutes shall be added to this letter.
Following the completion of liquidation and transferring of the money, assets and rights of the association,it is obligatory for liquidation committee to inform the local administrative authorities within seven days in a written format by attaching the liquidation minute.
第184条清算委員会は、清算期間において次に掲げる職権を行使する。
Article 184 A liquidation group shall exercise the following functions and powers during the course of the liquidation:..
Article 185 A liquidation group shall notify the creditors within a period of 10 days commencing from the date of its establishment and, within 60 days, make newspaper announcement of the liquidation..
Article 186 The liquidation group shall, notify the creditors within ten days after its formation and make a public announcement on newspapers within 60 days after its formation.
Article 186 A liquidation group shall, after liquidating the assets of the company and producing a balance sheet and schedule of assets, draft a liquidation plan and present it to the board of shareholders or the general meeting or to the people's court for confirmation.
When the General Assembly decides to annulment of the association, the cash,assets and rights of the association is liquidated by a liquidation committee consisting the members of the last Board of Directors.
In the event that the General Assembly resolves upon dissolution, liquidation of the association's cash,assets and rights shall be carried out by a liquidation committee to be formed of the members of the final Board of Directors.
In case the termination decision is taken by the general Assembly, liquidation of the Association's money,assets and rights is performed by the boardof liquidation composed of the members of the last boardof directors.
When it is decided for abrogation by the general board, the liquidation of money,goods and rights of the association is made by the liquidation committee made up of the members of the final board.
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