Singapore legislation
Clause 254
Clause 254
Circumstances in which company may be wound up voluntarily
(1)
A company may be wound up voluntarily —
when the period, if any, fixed for the duration of the company by the memorandum or articles expires, or the event, if any, occurs, on the occurrence of which the memorandum or articles provide that the company is to be dissolved and the company in general meeting has passed a resolution requiring the company to be wound up voluntarily; or
if the company so resolves by special resolution.[U.K.ss. 278, 279.][Aust. s. 254.]
(2)
A company shall —
within seven days after the passing of a resolution for voluntary winding up lodge a printed copy of the resolution with the Registrar; and
within ten days after the passing of the resolution give notice of the resolution in a newspaper circulating generally throughout Singapore and Malaysia.
(3)
If the company fails to comply with the provisions of subsection (2) of this section the company and every officer of the company who is in default shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding two hundred and fifty dollars and also to a default penalty.