On 20/05/2013,
you requested for the version in force on 20/05/2013
incorporating all amendments published on or before 20/05/2013.
The closest version currently available is that of 18/04/2013.
253.
—(1) A company, whether or not it is being wound up voluntarily, may be wound up under an order of the Court on the application —
(a)
of the company;
(b)
of any creditor, including a contingent or prospective creditor, of the company;
(c)
of a contributory or any person who is the personal representative of a deceased contributory or the Official Assignee of the estate of a bankrupt contributory;
(d)
of the liquidator;
(e)
of the Minister pursuant to section 241 or on the ground specified in section 254(1)(d) or (l);
(f)
of the judicial manager appointed pursuant to Part VIIIA;
(g)
in the case of a company which is carrying on or has carried on banking business, of the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act (Cap. 186); or
[1/2007 wef 31/03/2007]
(h)
of the Minister on the ground specified in section 254(1)(m),
or of any 2 or more of those parties.
[49/73; 15/84; 13/87; 42/2005]
(2) Notwithstanding anything in subsection (1) —
(a)
a person referred to in subsection (1)(c) may not make a winding up application on any of the grounds specified in section 254(1)(a), (b), (c), (e) or (i), unless —
(i)
the company has no member; or
(ii)
the shares in respect of which the contributory was a contributory or some of them were originally allotted to the contributory, or have been held by him and registered in his name for at least 6 months during the 18 months before the making of the winding up application or have devolved on him through the death or bankruptcy of a former holder;
(b)
a winding up application shall not, if the ground of the application is default in lodging the statutory report or in holding the statutory meeting, be made by any person except a contributory or the Minister nor before the expiration of 14 days after the last day on which the meeting ought to have been held;
(c)
the Court shall not hear the winding up application if made by a contingent or prospective creditors until such security for costs has been given as the Court thinks reasonable and a prima facie case for winding up has been established to the satisfaction of the Court; and
(d)
the Court shall not, where a company is being wound up voluntarily, make a winding up order unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories.
[28/2004; 42/2005]
[Aust., 1961, s. 221]