(1) Where it is proposed to wind up a company voluntarily, a director or, in the case of a company having more than 2 directors, the majority of the directors, may, at a meeting of the directors make a statutory declaration to the effect that they have made a full enquiry into the affairs of the company, and that, having so done, they have formed the opinion that the company will be able to pay its debts in full within such period not exceeding 12 months from the commencement of the winding-up as may be specified in the declaration.