Section 302 - Dissolution of company by Tribunal

Company dissolution: liquidator applies; Tribunal may order dissolution and direct Registrar recording within thirty days.

When a company's affairs are completely wound up, the Company Liquidator must apply to the Tribunal for dissolution; the Tribunal may order dissolution on that application or on its own finding that dissolution is just and reasonable. The Tribunal must, within thirty days of the order, forward a copy to the Registrar and direct the Company Liquidator to forward a copy so the Registrar records a minute of the dissolution. A prior provision prescribing a daily fine for failure to forward the order has been omitted by amendment.