COMPANIES ACT, 1029 
ART 
general meeting of the company and a meeting of the creditors, for 
the purpose of laying the account before the meetings, and giving 
any explanation thereof. 
(2) Each such meeting shall be called by advertisement in the 
Gazette, specifying the time, place, and object thereof, and published 
one month at least before the meeting. 
(3) Within one week after the date of the meetings, or, if the 
meetings are not held on the same date, after the date of the later 
meeting, the liquidator shall send to the registrar of companies a 
copy of the account, and shall make a return to him of the holding 
of the meetings and of their dates, and if the copy is not sent or the 
return is not made in accordance with this subsection the liquidator 
shall be liable to a fine not exceeding five pounds for every day 
during which the default continues: 
Provided that, if a quorum is not present at either such meeting, 
the liquidator shall, in lieu of the return hereinbefore mentioned, 
make a return that the meeting was duly summoned and that no 
quorum was present thereat, and upon such a return being made 
the provisions of this subsection as to the making of the return 
shall, in respect of that meeting, be deemed to have been complied 
with. 
(4) The registrar on receiving the account and in respect of 
each such meeting either of the returns hereinbefore mentioned 
shall forthwith register them, and on the expiration of three months 
from the registration thereof the company shall be deemed to be 
dissolved: 
Provided that the court may, on the application of the liquidator 
or of any other person who appears to the court to be interested, 
make an order deferring the date at which the dissolution of the 
company is to take effect for such time as the court thinks fit. 
(5) It shall be the duty of the person on whose application 
an order of the court under this section is made, within seven days 
after the making of the order, to deliver to the registrar an office 
copy of the order for registration, and if that person fails so to do he 
shall be liable to a fine not exceeding five pounds for every day during 
which the default continues. 
Provisions applicable to every Voluntary Winding Up. 
246. The provisions contained in the nine sections of this Act 
next following shall apply to every voluntary winding up whether 
a members’ or a creditors’ winding up 
247. Subject to the provisions of this Act as to preferential 
payments, the property of a company shall, on its winding up, be 
applied in satisfaction of its liabilities pari passu, and, subject to 
such application, shall, unless the articles otherwise provide, be 
distributed among the members according to their rights and 
interests in the companv 
Jrovisions ap- 
slicable to every 
voluntary wind- 
ng up 
Distribution of 
property of 
company.