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455.   Final meeting of company and of creditors

Revised Laws of Saint Lucia (2021)

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455.   Final meeting of company and of creditors

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    (1)   As soon as the affairs of the company are fully wound up, the liquidator shall make up an account of the winding-up, showing how the winding-up has been conducted and the property of the company has been disposed of, and thereupon shall call a general meeting of the company and a meeting of the creditors, for the purpose of laying the account before the meetings, and giving any explanation thereof.

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    (2)   Each such meeting shall be called by advertisement in the Gazette or in a newspaper printed and circulating in Saint Lucia specifying the time, place and object thereof, and published one month at least before the meeting.

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    (3)   Within one week after the date of the meetings, or, if the meetings are not held on the same date, after the date of the later meeting, the liquidator shall send to the Registrar a copy of the account, and shall make a return to him or her of the holding of the meetings and of their dates, and if the copy is not sent or the return is not made in accordance with this subsection the liquidator commits an offence.

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    (4)   Despite anything in subsection (3), if a quorum is not present at either such meeting, the liquidator shall, in lieu of the return referred to in subsection (3), make a return that the meeting was duly summoned and that no quorum was present at the meeting, and upon such a return being made the provisions of this subsection as to the making of the return are, in respect of that meeting, deemed to have been complied with.

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    (5)   The Registrar on receiving the account and in respect of each such meeting either of the returns mentioned in subsection (3) or (4) shall register them, and on the expiration of 3 months from the registration thereof the company is deemed to be dissolved, but the Court may, on the application of the liquidator or of any other person who appears to the Court to be interested, make an order deferring the date at which the dissolution of the company is to take effect for such time as the Court thinks fit.

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    (6)   The person on whose application an order of the Court under this section is made, shall, within 7 days after the making of the order, lodge with the Registrar a copy of the order for registration, and if that person fails to do so he or she commits an offence.

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    (7)   If the liquidator fails to call a general meeting of the company or a meeting of the creditors as required by this section, he or she commits an offence.

Provisions Applicable To Every Voluntary Winding-up

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