s 160 Circumstances in which company may be wound up voluntarily
160.—(1) A company may be wound up voluntarily —(a) when the period (if any) fixed for the duration of the company by the constitution of the company expires or, where the constitution of the company provides that the company is to be dissolved on the occurrence of an event, when that event happens, and the company in general meeting has passed a resolution requiring the company to be wound up voluntarily; or (b) if the company so resolves by special resolution. (2) A company must —(a) within 7 days after the passing of a resolution for voluntary winding up, lodge a copy of the resolution with the Registrar of Companies; and (b) within 10 days after the passing of the resolution, give notice of the resolution in the Gazette and at least one English local daily newspaper. (3) If the company fails to comply with subsection (2), the company and every officer of the company who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000 and also to a default penalty.