Section 116Part 5 — Company Restructuring and Winding UpAmended
Circumstances in whi ch a company may be wound up voluntarily
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Amended by LG72/S3
A company incorporated and registered under this Act or an existing company may be wound up voluntarily —
when the period, if any, fixed for the duration of the company by its memorandum or articles of asso ciation expires;
if the event, if any, occurs, on the occurrence of which the memorandum or articles of association provide that the company is to be wound up;
if the company resolves by special resolution that it be wound up voluntarily; or
if the company in general meeting resolves by ordinary resolution that it be wound up voluntarily because it is unable to pay its debts.