440. Right to present winding up petition where company is being wound up voluntarily.
1[440. Right to present winding up petition where company is being wound up voluntarily.-
(1) Where a company is being wound up voluntarily, a petition for its winding up by the Tribunal may be presented by-
(a) Any person authorised to do so under section 439; or
(b) The Official Liquidator.
(2) The Tribunal shall not make a winding up order on a petition presented to it under sub-section (1), unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories or both.]
1. Subs. by Act 11 of 2003, sec. 56, for section 440. |
