Declaration of solvency in case of proposal to wind up voluntarily.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eting of the Board, make a declaration verified by an affidavit to the effect that they have made a full inquiry into the affairs of the company and they have formed an opinion that the company has no debt or whether it will be able to pay its debts in full from the proceeds of assets sold in voluntary winding up. (2) A declaration made under sub-section (1) shall have no effect for the purposes....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....and liabilities of the company on that date; and (d) where there are any assets of the company, it is accompanied by a report of the valuation of the assets of the company prepared by a registered valuer. (3) Where the company is wound up in pursuance of a resolution passed within a period of five weeks after the making of the declaration, but its debts are not paid or provided for in full, it....