Section 432
Modes of winding up
ActIn forceProvision 432 of 768
Section 432
(a)
by way of a winding up order made by the Court; or
(b)
by way of a voluntary winding up.
(2)
A voluntary winding up may be effected by a resolution either—
(a)
by a members’ voluntary winding up where the company is solvent and the liquidator is appointed by the members at the members’ meeting; or
(b)
by a creditors’ voluntary winding up where the company is insolvent and the liquidator is appointed by the creditors at the creditors’ meeting.
Companies 427