COMPANIES ACT, 1929

(iiil} VorLuntarRy WINDING Up

Resolutions for, and commencement of Voluntary Winding Up
225. Circumstances in which company may be wound up voluntarily
226. Notice of resolution to wind up voluntarily.
222. Commencement of voluntary winding up.

Consequences of Voluntary Winding Up.
228. Effect of voluntarv winding up on business and status of
company.
229. Avoidance of transfers, &c., after commencement of voluntary
winding up.

Declaration of Solvency.
230. Statutory declaration of solvency in case of proposal to wind up
voluntarily

Provisions applicable to a Members’ Voluntary Winding Up
231. Provisions applicable to a members’ winding up.
232. Power of company to appoint and fix remuneration
liquidators.
233. Power to fill vacancy in office of liquidator.
234. Power of liquidator to accept shares, &c.. as consideration for
sale of property of company.
235. Duty of liquidator to call general meeting at end of each year
226. Final meeting and dissolution.

Provisions applicable to a Creditors’ Voluntary Winding up
237. Provisions applicable to a creditors’ winding up.
238. Meeting of creditors.
239. Appointment of liquidator.
240. Appointment of committee of inspection.
241. Fixing of liquidator’s remuneration and cesser of directors
powers.
242. Power to fill vacancy in office of liquidator.
243. Application of s. 234 to a creditors’ voluntary winding up.
244. Duty of liquidator to call meetings of company and of creditors
at end of each year.
245. Final meeting and dissolution.

Provisions applicable to every Voluntarv
Provisions applicable to every voluntary
Distribution of property of company.
Powers and duties of liquidator in voluntary winding up.
Power of court to appoint and remove liquidator in voluntary
winding up.
250. Notice by liquidator of his appointment.
2:1. Arrancement when binding on creditors

24C
2:
2,
24