Domestic Violence Act, 1998
R 385
Companies Act, 1973 (Act No. 61 of 1973)Chapter XIV: Winding-up of CompaniesVoluntary Winding-up353. Effect of voluntary winding-up on status of company and on directors |
1) | A company which is being wound up voluntarily shall, notwithstanding anything contained in its articles, remain a corporate body and retain all its powers as such, but shall from the commencement of the winding-up cease to carry on its business except in so far as may be required for the beneficial winding-up thereof. |
2) | As from the commencement of a voluntary winding-up all the powers of the directors of the company concerned shall cease except in so far as their continuance is sanctioned- |
a) | by the liquidator or the creditors in a creditors' voluntary winding-up; or |
b) | by the liquidator or the company in general meeting in a members' voluntary winding-up. |