Singapore legislation
Section 162
Section 162
Effect of voluntary winding up
(1)
The company must, starting on the commencement of the winding up, cease to carry on its business, except so far as is in the opinion of the liquidator required for the beneficial winding up of the company.
(2)
Despite anything to the contrary in the constitution of the company, the corporate state and corporate powers of the company continue until the company 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, are void.