A voluntary winding up is deemed to commence at the time of the passing of the resolution for voluntary winding up.
Definitions used in section 86 1
- a resolution for voluntary winding up
(2) In this Act the expression “a resolution for voluntary winding up” means a resolution passed under either of the paragraphs of subsection (1).
Defined in s.84(2) · see it in the full Act
Cases considering section 86 4
In the matter of C.C.T. Logistics Limited (in liquidation)
Applies the rule that a voluntary liquidation commences when the winding-up resolution is passed. The directors therefore lacked authority after 15 July 2021 to request or ratify payment on the company’s behalf.
Warwick & Anor (Joint Liquidators)
Applies the rule that a voluntary winding up commences when the winding-up resolution is passed. The commencement date is the point at which the identity of members entitled to participate in the eventual distribution crystallises. (see paras [27]-[30])
Cartwright & Anor v The Registrar of Companies
A creditors’ voluntary liquidation ordinarily commences upon passage of the winding-up resolution, but conversion from administration is governed by the special rule in paragraph 83(6) (see paras [11]; [44]).
What each judgment says about section 86 is in the case-law panel in the full Act.