Part VI Winding up (ss. 205A-313A)

AI Summary of Part VI Winding up (ss. 205A-313A)

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

Version date: 23 December 1963 - onwards

		Future version	Amendment requiring commencement	Draft proposed change
	(i) Preliminary (ss. 205A-211)
	Modes of Winding Up (ss. 205A-206)
	205A. Restriction of this Part.
	206. Modes of winding up.
	Contributories (ss. 207-211)
	207. Liability as contributories of past and present members.
	208. Definition of "contributory".
	209. Liability of contributory.
	210. Contributories in case of death of member.
	211. Contributories in case of bankruptcy of member.
	(ii) Winding up by the Court (ss. 212-250)
	Jurisdiction (s. 212)
	212. Jurisdiction to wind up companies.
	Cases in which Company may be wound up by the Court (ss. 213-214)
	213. Circumstances in which company may be wound up by the court.
	214. Circumstances in which company deemed to be unable to pay its debts.
	Petition for Winding Up and Effects thereof (ss. 215-219)
	215. Provisions as to applications for winding up.
	216. Powers of court on hearing petition.
	217. Power to stay or restrain proceedings against company.
	218. Avoidance of dispositions of property and transfer of shares after commencement of winding up.
	219. Avoidance of executions against property of company.
	Commencement of Winding Up (s. 220)
	220. Commencement of winding up by the court.
	Consequences of Winding-up Order (ss. 221-224)
	221. Copy of order for winding up to be forwarded to registrar.
	222. Actions against company stayed on winding-up order.
	223. Effect of winding-up order.
	224. Statement of company's affairs to be filed in court.
	Liquidators (ss. 225-231)
	225. Appointment of liquidator.
	226. Appointment and powers of provisional liquidator.
	227. Publication by liquidator of his appointment.
	227A. Registration of judgments given in insolvency proceedings.
	227B. Publication in relation to insolvency proceedings.
	228. General provisions as to liquidators.
	229. Custody of company's property.
	230. Vesting of property of company in liquidator.
	231. Powers of liquidator.
	Committees of Inspection (ss. 232-233)
	232. Meetings of creditors and contributories to determine whether committee of inspection should be appointed.
	233. Constitution and proceedings of committee of inspection.
	General Powers of Court in case of Winding Up by the Court (ss. 234-249)
	234. Power to annul order for winding up or to stay winding up.
	235. Settlement of list of contributories and application of assets.
	236. Delivery of property of company to liquidator.
	237. Payment of debts due by contributory to the company and extent to which set-off allowed.
	238. Power of court to make calls.
	239. Payment into bank of moneys due to company.
	240. Order on contributory to be conclusive evidence.
	241. Power to exclude creditors not proving in time.
	242. Adjustment of rights of contributories.
	243. Inspection of books by creditors and contributories.
	244. Power to order costs of winding up to be paid out of assets.
	244A. No lien over company's books, records, etc.
	245. Power of court to summon persons for examination.
	245A. Order for payment or delivery of property against person examined under section 245 of this Act.
	246. Attendance of officers of company at meetings.
	247. Power to arrest absconding contributory or officer of company.
	248. Powers of court cumulative.
	249. Dissolution of company.
	Enforcement of Orders made in Winding Up by Courts outside the State (s. 250)
	250. Enforcement of orders made in winding up by courts outside the State.
	(iii) Voluntary Winding Up (ss. 251-282D)
	Resolutions for and Commencement of Voluntary Winding Up (ss. 251-253)
	251. Circumstances in which company may be wound up voluntarily.
	252. Publication of resolution to wind up voluntarily.
	253. Commencement of voluntary winding up.
	Consequences of Voluntary Winding Up (ss. 254-255)
	254. Effect of voluntary winding up on business and status of company.
	255. Avoidance of transfers of shares after commencement of voluntary winding up.
	Declaration of Solvency (s. 256)
	256. Statutory declaration of solvency in case of proposal to wind up voluntarily.
	Provisions applicable to a Members' Voluntary Winding Up (ss. 257-264)
	257. Provisions applicable to a members' voluntary winding up.
	258. Power of company to appoint and fix remuneration of liquidators.
	259. Power to fill vacancy in office of liquidator.
	260. Power of liquidator to accept shares as consideration for sale of property of company.
	261. Duty of liquidator to call creditors' meeting if he is of opinion that company unable to pay its debts.
	262. Duty of liquidator to call general meeting at end of each year.
	263. Final meeting and dissolution.
	264. Alternative provisions as to annual and final meetings if liquidator is of opinion that company unable to pay its debts.
	Provisions applicable to a Creditors' Voluntary Winding Up (ss. 265-273)
	265. Provisions applicable to a creditors, voluntary winding up.
	266. Meeting of creditors.
	267. Appointment of liquidator.
	267A. Confirmation of creditors' voluntary winding up.
	268. Appointment of committee of inspection.
	269. Fixing of liquidators' remuneration and cesser of directors' powers.
	270. Power to fill vacancy in office of liquidator.
	271. Application of section 260 to a creditors' voluntary winding up.
	272. Duty of liquidator to call meetings of company and of creditors at end of each year.
	273. Final meeting and dissolution.
	Provisions applicable to every Voluntary Winding Up (ss. 274-282D)
	274. Provisions applicable to every voluntary winding up.
	275. Distribution of property of company.
	276. Powers and duties of liquidator in voluntary winding up.
	276A. Consent to appointment as liquidator and notification of appointment.
	277. Power of court to appoint and remove liquidator in a voluntary winding up.
	278. Notice by liquidator of his appointment.
	279. Provisions as to arrangement binding creditors.
	280. Power to apply to court to have questions determined or powers exercised.
	281. Costs of voluntary winding up.
	282. Saving for rights of creditors and contributories.
	282A. Inspection of books in voluntary winding-up.
	282B. Power of court to summon persons for examination in voluntary winding-up.
	282C. Order for payment or delivery of property against person examined under section 282B.
	282D. Power to arrest absconding contributory or officer of company in voluntary winding-up.
	(iv) Provisions Applicable to every mode of Winding Up (ss. 283-313A)
	Proof and Ranking of Claims (ss. 283-285)
	283. Debts which may be proved.
	284. Application of bankruptcy rules in winding up of insolvent companies.
	285. Preferential payments in a winding up.
	Effect of Winding Up on antecedent and other Transactions (ss. 286-292)
	286. Fraudulent preference.
	287. Liabilities and rights of certain persons who have been fraudulently-preferred.
	288. Circumstances in which floating charge is invalid.
	289. Other circumstances in which floating charge is invalid.
	290. Disclaimer of onerous property in case of company being wound up.
	291. Restriction of rights of creditor as to execution or attachment in case of company being wound up.
	292. Duties of sheriff as to goods taken in execution.
	Offences antecedent to or in the course of Winding Up (ss. 293-299)
	293. Offences by officers of companies in liquidation.
	294. Alteration or falsification of books.
	295. Frauds by officers of companies which have gone into liquidation.
	296. Liability where proper books of account not kept.
	297. Criminal liability of persons concerned for fraudulent trading of company.
	297A. Civil liability of persons concerned for fraudulent or reckless trading of company.
	298. Power of court to assess damages against directors.
	299. Prosecution of criminal offences committed by officers and members of company.
	Supplementary Provisions as to Winding Up (ss. 300-309)
	300. Disqualification for appointment as liquidator.
	300A. Disqualification for appointment as liquidator.
	301. Corrupt inducement affecting appointment as liquidator.
	301A. Disclosure of interest by creditors etc. at creditors' meetings.
	302. Enforcement of duty of liquidator to make returns.
	303. Notification that a company is in liquidation.
	304. Books of company to be evidence.
	305. Disposal of books and papers of company in winding up.
	306. Information about progress of liquidation.
	307. Unclaimed dividends and balances to be paid into Companies Liquidation Account.
	308. Resolutions passed at adjourned meetings of creditors and contributories.
	309. Meetings to ascertain wishes of creditors and contributories.
	Provisions as to Dissolution (ss. 310-311A)
	310. Power of court to declare dissolution of company void.
	311. Power of registrar to strike defunct company off register.
	311A. Restoration to register of company struck off.
	Rules of Court (s. 312)
	312. Rules of Court for winding up.
	Disposal of documents filed with Registrar (ss. 313-313A)
	313. Disposal of documents filed with registrar.
	313A. Provision of certain documents to liquidator or examiner.

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AI Summary of Part VI Winding up (ss. 205A-313A)

Part VI Winding up (ss. 205A-313A)