Professional Documents
Culture Documents
i)
When the period, if any, fixed for the duration of the company by the
memorandum & articles (M & A), or the event, if any, occurs, on the occurrence
of which the M & A provide that the company is to be dissolved and the company
in GM has passed resolution to voluntary winding up.
If the company so resolves by special resolution.
ii)
S257 CA:
i) Directors should lodge a declaration of solvency using Form 66. The company will
be able to pay its debts in full within a period not exceeding 12 months after the
commencement of the winding up.
ii) The declaration must be supported by a Statement of Affairs of the company
showing, in the prescribed form:
a) Assets of the company & the proceeds expected from their realization.
b) Liabilities of the company
c) Estimated expenses of winding up.
iii) A director who makes a declaration without having reasonable grounds for the
opinion shall be imprisonment for 3 years or RM10, 000 fine or both.
iv) One special resolution is passed and members can appoint the liquidator and should
fill up Form 71 (Notice of Appointment of Liquidator) and lodge to CCM.
v) Once the special resolution is passed and liquidator appointed, the company secretary
will ceased his duty. But company secretary may act as liquidator for members
winding up as there is no requirement under companies act that the liquidator must be
an approved liquidator for winding up.
vi) If the liquidator believes that the company will not pay its debts in full within stated
time, he/she must immediately call a meeting of creditors.
vii) At the meeting, creditors will consider a statement of assets & liabilities & may
appoint another person as a liquidator.
The company has by special resolution resolved that it be wound up by the Court.
Default is made by the company, in lodging the statutory report or in holding the
iii)
statutory meeting.
The company does not commence business within a year from its incorporation or
suspends its business for a whole year.
iv)
v)
vi)
two.
The company is unable to pay its debts.
The directors have acted in the affairs of the company in their own interests rather
vii)
viii)
When the period, if any, fixed for the duration of the company by the M & A
expires, or the event, if any, occurs on the occurrence of which the M & A provide
ix)
x)
xi)
the Islamic Banking Act, and that license has been revoked or surrendered.
The company has carried on Islamic banking business, licensed business or
scheduled business or it has accepted, received or taken deposits in
Malaysia,