Clause 150

Section 254 of the Companies Act is amended by inserting, immediately after subsection (2), the following subsection:“(2A) On an application for winding up on the ground specified in subsection (1)(f) or (i), instead of making an order for the winding up, the Court may if it is of the opinion that it is just and equitable to do so, make an order for the interests in shares of one or more members to be purchased by the company or one or more other members on terms to the satisfaction of the Court.”.