676 SECRETARIAL PRACTICE 
IQ 
(2) A declaration made as aforesaid shall have no effect for the 
purposes of this Act unless it is delivered to the registrar of companies 
for registration before the date mentioned in subsection (1) of this 
section. 
(3) A winding up in the case of which a declaration has been 
made and delivered in accordance with this section is in this Act 
referred to as “a members’ voluntary winding up,” and a winding up 
in the case of which a declaration has not been made and delivered 
as aforesaid is in this Act referred to as ‘““a creditors’ voluntary 
winding up.”’ 
Provisions applicable to a Members’ Voluntary Winding Up. 
Provisions ap- 231. The provisions contained in the five sections of this Act 
plissils tom next following shall apply in relation to a members’ voluntary 
winding up. winding up. 
Power of com- 232.—(1) The company in general meeting shall appoint one or 
Pao Point more liquidators for the purpose of winding up the affairs and 
ation of distributing the assets of the company. and may fix the remuneration 
Hiouidatars, to be paid to him or them. 
(2) On the appointment of a liquidator all the powers of the 
directors shall cease, except so far as the company in general meeting, 
or the liquidator, sanctions the continuance thereof. 
Power to fill 
vacancy in 
office of Fr 
liquidator. 
233.—(1) If a vacancy occurs by death, resignation, or otherwise 
in the office of liquidator appointed by the company, the company 
in general meeting may, subject to anv arrangement with its creditors. 
fill the vacancy. 
(2) For that purpose a general meeting may be convened by 
any contributory or, if there were more liquidators than one, by 
the continuing liquidators. 
(3) The meeting shall be held in manner provided by this Act 
or by the articles, or in such manner as may, on application by 
any contributory or by the continuing liquidators. be determined 
bv the court. 
Dower of 0 234.—(1) Where a company is proposed to be, or is in course of 
os shares, j P€ing, wound up altogether voluntarily, and the whole or part of 
&c., as consider- its business or property is proposed to be transferred or sold to 
or sale of another company, whether a company within the meaning of this 
company. Act or not (in this section called ‘‘the transferee company’’) the 
liquidator of the first-mentioned company (in this section called ** the 
transferor company’) may, with the sanction of a special resolution 
of that company, conferring either a general authority on the 
liquidator or an authority in respect of any particular arrangement, 
receive in compensation or part compensation for the transfer or 
sale, shares, policies, or other like interests in the transferee company, 
for distribution among the members of the transferor company, 
or may enter into any other arrangement whereby the members