chapter  6
VOLUNTARY LIQUIDATIONS
Voluntary winding up: overview
WithNicholas Comyn
Pages 6

Any resolution passed under any of the three above headings is called a ‘resolution for voluntary winding up’, and, most importantly, s 253 CA 1963 provides that a voluntary winding up shall ‘be deemed to commence at the time of the passing of the resolution for voluntary winding up’. This is the date on which the resolution is passed at a general meeting of the company. The reasons the members’ and creditors’ windings up are called Voluntary winding up’ is because these are decisions made by the shareholders to wind up and not decisions imposed by an outside party, that is, the court.