COMPANIES ACT - 1963 (ACT 179)

    Section - 246 - Modes of Winding Up

    (1) The winding up of a company may be either,

    (a) by an official liquidation in accordance with the provisions of the Bodies Corporate (Official Liquidations) Act, 1963 (Act 180); or

    (b) by a private liquidation in accordance with the provisions of this Part of this Code.

    (2) The company shall, from the commencement of the winding up cease to carry on its business except so far as may be required for the beneficial winding up thereof, but the corporate state and corporate powers of the company shall continue until it is dissolved.

    (3) Where a company is being wound up by way of a private liquidation, every invoice, order or business letter issued by or on behalf of the company or any liquidator of the company or a receiver or manager of any property of the company, being a document in or on which the name of the company appears, shall contain a statement that the company is being wound up under this Part of this Code.

    (4) If default is made in complying with the provisions of the immediately preceding subsection the company and any officer of the company and any liquidator, receiver or manager who is in default shall be liable to a fine not exceeding twenty pounds.