Resolution to wind up voluntarily, Business Law and Ethics

Resolution to Wind Up Voluntarily:

 The type of resolution to be passed varies with the circumstances of the case, as provided in s.271(1):

(a) If the articles provide for liquidation at the end of a specified period or on the happening of an event, e.g. the completion of the transaction for which the company was formed, an ordinary resolution (referring to the articles) suffices; or

(b) A company may, by special resolution (giving no reason), resolve to wind up voluntarily

The winding up commences on the passing of the resolution.  The company must within 14 days after the passing of the resolution give notice of it by advertisement in the Kenya Gazette.

Posted Date: 1/15/2013 4:58:06 AM | Location : United States

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