Section 149
of International Business Companies Order, 2000
Section 149
(1)
Subject to the following provisions of this section, the provisions of Parts III
(Receivers and Managers) and Parts V and VI (Winding Up) of the Insolvency Order, 2016
shall apply to the winding-up of an IBC as they apply to the winding-up of a domestic company.
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
140
BLUV as at 20th June 2017
(2)
Where the Memorandum or Articles of an IBC specify a time or an event for the termination of the existence of the IBC, the winding-up and dissolution of the IBC shall be initiated by a resolution of the directors passed after the expiry of that time or, as the case may be, the happening of that event.
(3)
In their application to an IBC, Parts III, V and VI of the Insolvency Order, 2016
shall have effect subject to the modifications in the Schedule to this Order.
Striking off for breach of requirements or condition.