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Page 249

CHAPTER 23
VOLUNTARY WINDING UP

FROM the point of view of the company itself, a voluntary winding up has many advantages over a compulsory winding up, the chief being that there are not so many formalities to be complied with, and no public examination of the directors can be held.
A company may be wound up voluntarily (s. 278) :
1. When the period, if any, fixed for its duration by the articles expires, or the event, if any, occurs on the occurrence of which the articles provide that it is to be dissolved, and the company in general meeting passes an ordinary resolution to be wound up voluntarily.
2. If it resolves by special resolution to be wound up voluntarily.
3. If it resolves by extraordinary resolution that it cannot by reason of its liabilities continue its business and that it is advisable to wind up.
A company can be wound up by special resolution without assigning any reason.
The resolution, when passed, must be advertised within fourteen days in the Gazette (s. 279).
A voluntary winding up may be either (I) a members' voluntary winding up; or (II) a creditors' voluntary winding up.

MEMBERS' VOLUNTARY WINDING UP
A members' voluntary winding up only takes place when the company is solvent. It is entirely managed by the members and the liquidator appointed by them, and no meeting of creditors is held. To obtain the benefit of this form of winding up, a declaration of solvency must be filed.
Declaration of Solvency (s. 283).-This is a statutory declaration by the directors, or if there are more than two, by the majority of the directors that they have made a full inquiry into the company's affairs, and, having done so, they have formed the opinion that the company will be able to pay its debts in full within twelve months of the commencement of the winding up. The declaration must be

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where is HTML where is HEAD where is TITLE FROM what is point of view of what is company itself, a voluntary winding up has many advantages over a compulsory winding up, what is chief being that there are not so many formalities to be complied with, and no public examination of what is directors can be held. A company may be wound up voluntarily (s. 278) : 1. When what is period, if any, fixed for its duration by what is articles expires, or what is event, if any, occurs on what is occurrence of which what is articles provide that it is to be dissolved, and what is company in general meeting passes an ordinary resolution to be wound up voluntarily. 2. If it resolves by special resolution to be wound up voluntarily. 3. If it resolves by extraordinary resolution that it cannot by reason of its liabilities continue its business and that it is advisable to wind up. A company can be wound up by special resolution without assigning any reason. what is resolution, when passed, must be advertised within fourteen days in what is Gazette (s. 279). A voluntary winding up may be either (I) a members' voluntary winding up; or (II) a creditors' voluntary winding up. MEMBERS' VOLUNTARY WINDING UP A members' voluntary winding up only takes place when what is company is solvent. It is entirely managed by what is members and what is liquidator appointed by them, and no meeting of creditors is held. To obtain what is benefit of this form of winding up, a declaration of solvency must be filed. Declaration of Solvency (s. 283).-This is a statutory declaration by what is directors, or if there are more than two, by what is majority of what is directors that they have made a full inquiry into what is company's affairs, and, having done so, they have formed what is opinion that what is company will be able to pay its debts in full within twelve months of what is commencement of what is winding up. what is declaration must be where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 249 where is strong CHAPTER 23 VOLUNTARY WINDING UP where is p align="justify" FROM what is point of view of what is company itself, a voluntary winding up has many advantages over a compulsory winding up, what is chief being that there are not so many formalities to be complied with, and no public examination of what is directors can be held. A company may be wound up voluntarily (s. 278) : 1. When what is period, if any, fixed for its duration by what is articles expires, or what is event, if any, occurs on what is occurrence of which what is articles provide that it is to be dissolved, and the company in general meeting passes an ordinary resolution to be wound up voluntarily. 2. If it resolves by special resolution to be wound up voluntarily. 3. If it resolves by extraordinary resolution that it cannot by reason of its liabilities continue its business and that it is advisable to wind up. A company can be wound up by special resolution without assigning any reason. what is resolution, when passed, must be advertised within fourteen days in what is Gazette (s. 279). A voluntary winding up may be either (I) a members' voluntary winding up; or (II) a creditors' voluntary winding up. MEMBERS' VOLUNTARY WINDING UP A members' voluntary winding up only takes place when what is company is solvent. It is entirely managed by what is members and what is liquidator appointed by them, and no meeting of creditors is held. To obtain what is benefit of this form of winding up, a declaration of solvency must be filed. Declaration of Solvency (s. 283).-This is a statutory declaration by what is directors, or if there are more than two, by what is majority of what is directors that they have made a full inquiry into what is company's affairs, and, having done so, they have formed what is opinion that what is company will be able to pay its debts in full within twelve months of what is commencement of what is winding up. what is declaration must be where is Server.Execute("_SiteMap.asp") %

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