283 Commencement of voluntary winding up of solvent company

(1) Subject to subsection (2), a company may be wound up voluntarily under
voluntary winding up
this Sub-Part —
of solvent company

(a) if the company passes —

(i) a special resolution that it be wound up voluntarily; or

(ii) if so permitted by its memorandum or articles, an
ordinary resolution that it be wound up voluntarily; or

(b) if the period (if any) fixed by the memorandum or articles for the
duration of the company expires and the company passes an
ordinary resolution that it be wound up voluntarily; or

(c) if the event (if any) occurs on the occurrence of which the
memorandum or articles provide that the company shall be
dissolved and the company passes an ordinary resolution that it
be wound up voluntarily.

(2) A voluntary winding up resolution of members under subsection (1) shall
not be passed unless —

(a) it approves the voluntary winding up plan referred to in section 282(1) within 30 days of the date of such plan; and

(b) it appoints a liquidatoror two or more joint liquidators to wind up
the company‘s affairs and to realise and distribute its assets.


(3) A liquidator shall not be appointed by a resolution passed under this
section if —

(a) a liquidator of the company has been appointed by the Court;

(b) an application has been made to the Court to appoint a
liquidator of the company and the application has not been
dismissed; or

(c) the person to be appointed liquidator has not consented to his
appointment.

(4) A resolution under this section is void and of no effect if —

(a) in contravention of subsection (2), it does not appoint a
liquidator; or

(b) it appoints a person as liquidator in the circumstances referred
to in subsection (3) or in contravention of section 284.

(5) Subject to the provisions of this section, a voluntary winding up under
this Sub-Part commences upon the passing of the members‘ resolution
for voluntary winding up under subsection (1).