Section 250K

Where a company has resolved that the company be wound up voluntarily upon being accepted into the simplified winding up programme, and the company is accepted by the Official Receiver into the simplified winding up programme, for the purposes of section 161(6)(b) and paragraph (e) of the definition of “commencement of winding up” in section 217(1), it is deemed that the time of the passing of the resolution for voluntary winding up is the time of publication by the Official Receiver under section 250J(c) of the notice of acceptance in respect of the company in the Gazette.

The voluntary winding up of the company under the simplified winding up programme is to be treated as if it were a creditors’ voluntary winding up.

Despite anything in section 167, the Official Receiver is the liquidator of a company that is wound up voluntarily pursuant to the acceptance of the company into the simplified winding up programme.