Insolvency Act · 2022 Revised Edition · Chapter III
75. Final meeting prior to dissolution
Official textFrom Attorney General's Chambers, unchanged
As soon as the affairs of the company are fully wound up, the liquidator shall make up an account of the winding up showing how it has been conducted and the property of the company has been disposed of, and thereon shall call a general meeting of the company for the purpose of laying before it the account and giving an explanation of it.
company
“company” means a company incorporated or registered under the Companies Act;
The meeting shall be called by advertisement in the Gazette, specifying the time, place and object of the meeting, and published at least one month before the meeting.
Within one week after the meeting, the liquidator shall send to the Registrar a copy of the account, and shall make a return to him of the holding of the meeting and of its date.
If a quorum is not present at the meeting, the liquidator shall, in lieu of the return mentioned in subsection (3), make a return that the meeting was duly summoned and that no quorum was present; and on such return being made, the requirement in subsection (3) as to the making of the return is deemed to be complied with.
A liquidator who fails to —
send the copy of the account or make the return in accordance with subsection (3); or
call a general meeting of the company as required by subsection (1), is guilty of an offence and liable on conviction to a fine not exceeding
$1,000, and, in the case of a continuing offence, with a further fine not exceeding $50 for every day or part thereof during which the offence continues after conviction.
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
property
Defined · s 3“property”, in relation to a company, includes money, goods, things in action and every description of property, whether real or personal, and whether in Brunei Darussalam or elsewhere, and also obligations and every description of interest whether present or future or vested or contingent arising out of, or incidental to, property.
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