COMPANIES ACT 1963 – SECT 251 Circumstances in which company may be wound up voluntarily.
251.—(1) A company may be wound up voluntarily—
( a ) when the period, if any, fixed for the duration of the company by the articles expires, or the event, if any, occurs, on the occurrence of which the articles provide that the company is to be dissolved, and the company in general meeting has passed a resolution that the company be wound up voluntarily;
( b ) if the company resolves by special resolution that the company be wound up voluntarily;
( c ) if the company in general meeting resolves that it cannot by reason of its liabilities continue its business, and that it be wound up voluntarily.
(2) In this Act, “a resolution for voluntary winding up” means a resolution passed under any paragraph of subsection (1).