586. Resolution for and commencement of creditors' voluntary winding up

Version status: In force | Document consolidation status: Updated to reflect all known changes

Version date: 1 June 2015 - onwards

(2) A winding up of a company as a creditors' voluntary winding up pursuant to subsection (1) may be initiated by the company in general meeting resolving that it cannot by reason of its liabilities continue its business, and that it be wound up as a creditors' voluntary winding up.

(a) if a creditors' meeting is held in accordance with section 584 in relation to the company, or

(b) if the court makes an order under section 582(2) in relation to the company, or

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