Companies Act 2014
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Circumstances in which company may be wound up by the court | ||
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569. (1) A company may be wound up by the court— | ||
(a) if the company has by special resolution resolved that the company be wound up by the court, | ||
(b) if the company does not commence its business within a year after the date of its incorporation or suspends its business for a continuous period of 12 months, | ||
(c) if the members of the company are all deceased or no longer exist, | ||
(d) if the company is unable to pay its debts, | ||
(e) if the court is of the opinion that it is just and equitable that the company should be wound up, | ||
(f) if the court is satisfied that the company's affairs are being conducted, or the powers of the directors are being exercised, in a manner oppressive to any member or in disregard of his or her interests as a member and that, despite the existence of an alternative remedy, winding up would be justified in the general circumstances of the case but this paragraph is subject to subsection (2), | ||
(g) if the court is satisfied, on a petition of the Director, that it is in the public interest that the company should be wound up, or | ||
(h) in the circumstances referred to in section 535 (2) or 542 (5). | ||
(2) The court may dismiss a petition to wind up a company under subsection (1)(f) if it is of the opinion that proceedings under section 212 would, in all the circumstances, be more appropriate. | ||
(3) Subsection (1) is in addition to the special cases (namely those provided under sections 455 (2)(d), 760 and 761 ) in which a company may be wound up by the court. |