S.L. 386.24 Art. 4Deemed date of dissolution in certain special circumstances.  

(1) Where a winding up order has been made, the deemed date of dissolution of a company in relation to which, had it not been for the suspension made by regulation 3, an application for its dissolution and winding up would have been filed by a debenture holder, creditor, or creditors of the company during the suspension

*Vide Legal Notice 70 of 2024. DISSOLUTION AND WINDING UP)

shall, instead of the date of filing of the application as specified in article 223 of the Act, be the date upon which a debenture holder, creditor, or creditors files a judicial letter in court against the company informing it of the circumstances warranting its dissolution in terms of article 214 of the Act.

(2) The provisions of this regulation shall remain valid for a period of six (6) months following the lifting of the suspension made by regulation 3 unless the Court considers it reasonable and expedient for the purpose of ensuring the proper and efficient administration of justice to order, in the winding up order itself, that article 223 of the Act shall apply.