Section 92Part 5 — Company Restructuring and Winding Up
Circumstances in which a company may be wound up by the Court
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A company may be wound up by the Court if —
the company has passed a special resolution requiring the compa ny to be wound up by the Court;
the company does not commence its business within a year from its incorporation, or suspends its business for a whole year;
the period, if any, fixed for the duration of the company by the articles of association exp ires, or whenever the event, if any, occurs, upon the occurrence of which it is provided by the articles of association that the company is to be wound up;
the company is unable to pay its debts; or
the Court is of opinion that it is just and equitable that the company should be wound up.