|
|
Circumstances under which company may be wound up voluntarily.
Definition of extraordinary resolution.
|
129. A company under this Act may be wound up voluntarily,
|
|
| |
(1.) Whenever the period, if any, fixed for the duration of the company by the articles of association expires, or whenever the event, if any occurs, upon the occurrence of which it is provided by the articles of association that the company is to be dissolved, and the company in general meeting has passed a resolution recpiiring the company to be wound up voluntarily;
|
|
| |
(2.) Whenever the company has passed, a special resolution requiring the company to be wound up voluntarily;
|
|
| |
(3.) Whenever the company has passed an extraordinary resolution to the effect that it has been proved to their satisfaction that the company cannot by reason of its liabilities continue its business, and that it is advisable to wind up the same;
|
|
| |
For the purposes of this Act any resolution shall be deemed to be extraordinary which is passed in such manner as would, if it had been confirmed by a subsequent meeting, have constituted a special resolution, as herein-before defined.
|
