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srilawsby aturio
As enacted
Contents

Part XII · Winding Up

270. Circumstance in which a company may be wound up by the court

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

A company may be wound up by the court, if—

(a)

the company has by special resolution resolved that the company be wound up by the court;

(b)

the company does not commence its business within a year from its incorporation or suspends it business for one year;

(c)

if the number of the members falls below the minimum number required under subsection (2) of section 4 of this Act;

(d)

the company has no directors;

(e)

the company is unable to pay its debts; or

(f)

the court is of opinion that it is just and equitable that the company should be wound up.

Read on from s 271

Part XIII

Administrators Appointment of Administrator

Read on from Part XIII

Part XIV

Floating Charges

Read on from Part XIV

Part XV

Receivers and Managers

Read on from Part XV

Part XVI

Registrar-General of Companies and Registration Appointment of Officers

Read on from Part XVI

Part XVII

Application of Act to Existing Companies

Read on from Part XVII

Part XVIII

Overseas Companies

Read on from Part XVIII

Part XIX

Advisory Commission

Read on from Part XIX

Part XX

Companies Disputes Board

Read on from Part XX

Part XXI

Offences Miscellaneous Offences

Read on from Part XXI

Part XXII

Miscellaneous Prohibition of Partnership with More Than Twenty Members

Read on from Part XXII

Part XXIII

Repeals and Amendments

Read on from Part XXIII

Schedules