Section 150Part 5 — Company Restructuring and Winding Up
Currency of the liquidation
←→ Navigate · Click subsection badges to collapse · Press ? for help
In the case of a solvent liquidation, a company ’ s creditors are entitled to receive payment of their debts in the currency of the obligation.
In the case of an insolvent liquidation, a comp any ’ s liabilities shall be translated into the functional currency of the company at the exchange rates ruling —
on the date of the commencement of the voluntary liquidation; or
on the day upon which the winding up order is made.
For the purpos es of this section the functional currency of a company is the currency of the primary economic environment in which it operated as at the commencement of the liquidation. Dissolution of a Company