Section 442
Effect of voluntary winding up
ActIn forceProvision 442 of 768
Section 442
(2)
Notwithstanding anything to the contrary in the constitution, the corporate state and corporate powers of the company shall continue until it is dissolved.
(3)
Any transfer of shares, not being a transfer made to or with the sanction of the liquidator, and any alteration in the status of the members made after the commencement of the winding up, shall be void.