Section 127Part 5 — Company Restructuring and Winding Up
Final meeting prior to dissolution
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As soon as the company ’ s affairs are fully wound up, the liquidator shall make a report and an account of the winding up showing how it has been conducted and how the company ’ s property has been disposed of and thereupon shall call a general meeting of t he company for the purpose of laying before it the account and giving an explanation for it.
At least twenty - one days before the meeting the liquidator shall send a notice specifying the time, place and object of the meeting to each contributory in any manner authorised by the company ’ s articles of association and published in the Gazette.
The liquidator shall, no later than seven days after the meeting, make a return to the Registrar in the prescribed form specifying —
the date upon which the meeting was held; and
if a quorum was present, particulars of the resolutions, if any, passed at the meeting.
A liquidator who fails to call a general meeting of the company as required by subsection (1) or fails to make a return as required by sub section (3) commits an offence and is liable on conviction to a fine of ten thousand dollars.