s.20Winding up
20
Section 20Part 0 —

Winding up

←→ Navigate  ·  Click subsection badges to collapse  ·  Press ? for help

Where a licensee, being a company, is being wound up voluntarily, the Authority may apply to the Court for the licensee to be wound up by the Court.
The Court may, upon the application of the Authority, make an order for the licensee to be wound up by the Court on the ground that the public interest will be prejudiced by a voluntary winding up or on any other ground permitted by the Companies Act (2025 Revision).
On an application under subsection (1), the Court may make an order for the licensee to be wound up by the Court —
if the Court is of the opinion that a voluntary winding up would not be in the public interest in all the circumstances of the case; or
if the Court is satisfied of any of the grounds referred to in the Companies Act (2025 Revision) for a winding up of the licensee by the Court.

Cross References