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Companies Act, 1973 (Act No. 61 of 1973)

Chapter XIV: Winding-up of Companies

Provisions as to Meetings in Winding-up

412. Meetings of creditors and members and voting at meetings of creditors

 

 

1) In any winding-up of a company, meetings of creditors and members or contributories shall, save as otherwise provided in this Act, be convened and held in the following manner:
a) in the case of meetings of creditors, as nearly as may be in the manner prescribed for the holding of meetings of creditors under the law relating to insolvency; and
b) in the case of meetings of members or contributories, in the manner prescribed by regulation.

 

2) The provisions of section 52 of the Insolvency Act, 1936 (Act No. 24 of 1936), shall mutatis mutandis apply to the right of any creditor to vote at a meeting of creditors in a winding-up of a company.