Section 58, The Companies (Amendment) Act, 2014

Section 403 of the Companies Act, 2009 is repealed andand replaced by the following new section– “403 (1) When a company has passed a resolution for voluntary winding-up, it shall, within 14 days after the passing of the resolution, file a copy of the resolution with the Commission and give notice of the resolution, by advertisement in the Gazette and also in a local newspaper, if any, circulating in the district where the registered office of the company is situated. (2) If default is made in complying with any requirement under subsection (1), the company and every officer of the company who is in default shall be liable to a default fine of Le 5,000,000 each, and for the purposes of this sub-section the liquidator of the company shall be deemed to be an officer of the company.” 20 21 288 of Act 2009. 320 of Act 2009. 321 of Act 2009. 351 of Act 2009. 403 of Act 2009.Notices of resolutions to wind up voluntarly. Provisions as to dissolutions