Insolvency Act · 2022 Revised Edition · Chapter VI
101. Application for winding up
Official textFrom Attorney General's Chambers, unchanged
Subject to the provisions of this section, an application to the
Court for the winding up of a company shall be by petition presented by —
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
the company;
the directors of the company;
any creditor or creditors (including any contingent or prospective creditor or creditors);
contributory or contributories;
a liquidator; or
all or any of those parties, together or separately.
Except as mentioned in subsection (3), a contributory is not entitled to present a winding up petition unless —
the number of members is reduced to less than two; or
the shares in respect of which he is a contributory, or some of them, were originally allotted to him, or have been held by him, and registered in his name, for at least 6 months during the 18 months before the commencement of the winding up, or have devolved on him through the death of a former holder.
A person who is liable to contribute to a company’s assets in the event of its being wound up may petition on either of the grounds set out in section 99(1)(e) and (g), and subsection (2) does not then apply; but unless the person is a contributory otherwise than under section 58, he may not, in his character as contributory, petition on any other ground.
company
“company” means a company incorporated or registered under the Companies Act;
A winding up petition on the ground set out in section 99(1)(f)
may only be presented by one or more creditors.
Insolvency
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
A winding up petition may be presented by the Minister —
if the ground of the petition is that set out in section 99(1)(b); or
in a case falling within section 102.
Where a company is being wound up voluntarily, a winding up petition may be presented by the Official Receiver attached to the Court as well as by any other person authorised in that behalf under the other provisions of this section; but the Court shall not make a winding up order on the petition unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories.
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Court
Defined · s 3“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
insolvency
Defined · s 3“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
Chapter VII
Chapter VIII
Chapter IX
Chapter X
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