Week 12 - Members' Voluntary Winding Up

Question 1

What can members’ voluntary winding up take place?

Answer 1

Only when the company is solvent

Question 2

What commences the winding up?

Answer 2

General meetings of shareholders will pass a special resolution to commence the winding up

Question 3

What must directors do for winding up?

Answer 3

Give a declaration of solvency to the Registrar of Companies

Question 4

This means the company will be able to pay its debts within…

Answer 4

12 months