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L-4 - Winding-up Act
Section 3
Disposition versions
3. The resolution of the directors, declaring it to be expedient that the company should be wound up voluntarily, shall be submitted to the general meeting of the shareholders, and if such meeting pass, by the vote of at least two-thirds in value of the shares represented by the shareholders present, a resolution that the company shall be wound up voluntarily and dissolved, then the company shall subsist and carry on business for the purpose only of winding-up its affairs.
