Publication requirement: Companies must advertise voluntary winding-up resolutions; failure attracts daily fines and liquidator liability. Companies passing a resolution for voluntary winding up must, within fourteen days, advertise the resolution in the Official Gazette and in a newspaper circulating in the district of the registered office. Failure to comply renders the company and every officer in default liable to a daily fine for each day the default continues, and a liquidator is deemed an officer for this purpose. The provision's maximum daily fine was subsequently increased by amendment.
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Publication requirement: Companies must advertise voluntary winding-up resolutions; failure attracts daily fines and liquidator liability.
Companies passing a resolution for voluntary winding up must, within fourteen days, advertise the resolution in the Official Gazette and in a newspaper circulating in the district of the registered office. Failure to comply renders the company and every officer in default liable to a daily fine for each day the default continues, and a liquidator is deemed an officer for this purpose. The provision's maximum daily fine was subsequently increased by amendment.
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