Insolvency Act CAP 53▤
Final meeting prior to dissolution: creditors' voluntary liquidation
(1) As soon practicable after the liquidation of the company's affairs has been completed, the liquidator shall prepare an account…
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727 results · Insolvency Act CAP 53
Insolvency Act CAP 53▤
Meetings of company and company's creditors to be held every twelve months
(1) A liquidator who continues in office for more than twelve months shall convene a general meeting of the company and a meeting…
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Insolvency Act CAP 53▤
Vacancy in office of liquidator: creditors' voluntary liquidation
(1) If a vacancy occurs in the office of liquidator, the creditors may fill the vacancy. (2) Subsection (1) does not apply to a li…
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Insolvency Act CAP 53▤
Cessation of directors' powers
On the appointment of a liquidator, all the powers of the directors cease, except so far as the liquidation committee, or if there…
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Insolvency Act CAP 53▤
Creditors' meeting if liquidation converted under section 404
If, in the case of a liquidation that was under section 404 converted to a creditors' voluntary liquidation, a creditors' meeting…
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Insolvency Act CAP 53▤
Creditors may appoint liquidation committee
(1) The creditors at the meeting to be held in accordance with section 406 or at any subsequent meeting may, if they think appropr…
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Insolvency Act CAP 53▤
Creditors' voluntary liquidation: appointment of liquidator
(1) The creditors and the company at their respective meetings may nominate an authorised insolvency practitioner to be liquidator…
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Insolvency Act CAP 53▤
Directors to lay statement of financial position before creditors
(1) The directors of the company shall— (a) prepare a statement setting out the financial position of the company that complies wi…
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Insolvency Act CAP 53▤
Meeting of creditors to be convened by company
(1) A company that is in the course of liquidation shall— (a) convene a meeting of the company's creditors for a day not later tha…
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Insolvency Act CAP 53▤
Application of Division 4
(1) Except as provided by subsection (2), this Division applies in relation to a creditors' voluntary liquidation. (2) Sections 40…
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Insolvency Act CAP 53▤
Conversion to creditors' voluntary liquidation
As from and including the date on which the creditors' meeting is held in accordance with section 403— (a) this Part has effect as…
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Insolvency Act CAP 53▤
Effect of company’s insolvency
(1) This section applies if the liquidator is of the opinion that the company will be unable to pay its debts in full (together wi…
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Insolvency Act CAP 53▤
Final meeting prior to dissolution: members' voluntary liquidation
(1) As soon practicable after the liquidation of the company's affairs is complete, the liquidator— (a) shall prepare an account o…
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Insolvency Act CAP 53▤
General company meeting at each year's end
(1) If the liquidation of a company continues for a period of twelve months or more, the liquidator shall convene a general meetin…
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Insolvency Act CAP 53▤
Power to fill vacancy in office of liquidator
(1) If a vacancy occurs (whether by death, resignation or otherwise) in the office of liquidator appointed by the company, the com…
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Insolvency Act CAP 53▤
Appointment of liquidator in members' voluntary liquidation
(1) In a members' voluntary liquidation, the company in general meeting shall appoint one or more liquidators for the purpose of l…
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Insolvency Act CAP 53▤
Making and effect of declaration of solvency by directors of company
(1) If it is proposed to liquidate a company voluntarily, the directors (or, in the case of a company having more than two directo…
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Insolvency Act CAP 53▤
Share transfers and attempts to alter member's status after liquidation resolution to be void
The following are void if made after the commencement of a voluntary liquidation of a company— (a) any transfer of the company's s…
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Insolvency Act CAP 53▤
Consequences of resolution to liquidate
(1) On and after the commencement of voluntary liquidation of a company, the company shall cease to carry on its business, except…
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Insolvency Act CAP 53▤
When liquidation commences
The voluntary liquidation of a company commences when the resolution for voluntary liquidation is passed.
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Insolvency Act CAP 53▤
Notice of resolution to liquidate
(1) Within fourteen days after a company has passed a resolution for its voluntary liquidation, it shall publish a notice setting…
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Insolvency Act CAP 53▤
Circumstances in which company may be liquidated voluntarily
(1) A company may be liquidated voluntarily— (a) when the period (if any) fixed for the duration of the company by the articles ex…
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Insolvency Act CAP 53▤
Liability of contributories to contribute to debts of company registered but not formed under Companies Act
(1) This section applies to a company in liquidation that is registered but was not formed under the Companies Act (Cap. 486). (2)…
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Insolvency Act CAP 53▤
Liability of contributories who are adjudged bankrupt
If a contributory is adjudged bankrupt, either before or after being placed on the list of contributories, the following provision…
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