Section - 498 - Alternative provisions as to annual and final meetings in case of insolvency
Alternative provisions as to annual and final meetings in case of insolvency.498. Where has effect, and shall apply to the winding up, to the exclusion of and , as if the winding up were a creditors’ voluntary winding up and not a members’ voluntary winding up :Provided that the liquidator shall not be required to call a meeting of creditors under at the end of the first year from the commencement of the winding up, unless the meeting held under has been held more than three months before the end of that year.
Duty of liquidator to call creditors’ meeting in case of insolvency.495. (1) If, in the case of a winding up commenced after the commencement of this Act, the liquidator is at any time of opinion that the company will not be able to pay its debts in full within the period stated in the d .... To read the full section download the app from Google Play store
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