In forceAmended2020 Revised Edition

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Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 10A · Simplified Winding Up

250O. Winding up by Court of company

Amended

Last amended by an amending law of 2025. 2 amendments in all.

(1)

The liquidator of a company that is being wound up voluntarily under the simplified winding up programme, may make an application under section 124(1)(e) for the company to be wound up under an order of the Court if the liquidator is satisfied —

(a)

on the basis of any information or document that is not known to or in the possession of the liquidator at the time of the company’s entry into the simplified winding up programme but that is made known to or available to the liquidator after the entry, that —

(i)

the company did not meet all the eligibility criteria mentioned in section 250F(2) at the time of the entry; or

(ii)

any circumstance mentioned in section 250F(3) existed in relation to the company at the time of the entry; (b)that the company ceases to fulfil all of the eligibility criteria mentioned in section 250F(2);

(c)

that any circumstance mentioned in section 250F(3) has arisen after the company entered the simplified winding up programme; or

(d)

that the company’s entry into the simplified winding up programme has been obtained on the basis of any false or misleading particulars, information or document submitted by the company to the liquidator.

(2)

To avoid doubt, subsection (1) does not affect the right of any person to make an application under section 124(1) for an order that a company that is being wound up voluntarily under the simplified winding up programme, be wound up under an order of the Court.

(3)

Section 124(2)(e) does not apply in relation to an application made by the liquidator or any other person for an order for the winding up of a company that is being wound up voluntarily under the simplified winding up programme.