WINDING UP

Which of the following cannot initiate a proceeding for compulsory winding up of a company?

• Minister

• Creditor

• Company

• Local bank

A creditor’s voluntary winding up starts with the creditor's petition to the court.

• TRUE

• FALSE

Which of the following statements is not the ground of a compulsory winding up?

• The company is formed for unlawful purpose.

• No business within a year from its incorporation.

• The company has no member.

• The directors fail to lodge a declaration of solvency to the Registrar of companies.

The above statement refers to the process of _______.

• Winding up

• Formation of a new company

• Drafting a pre-incorporation contract

• Drafting the Memorandum and Articles of Association

In relation to the above situation Uptown Bus Services Sdn Bhd may be dissolved by ______.

• Fraud

• Deadlock

• Failure to substratum

• no members in the company

Which one of the following is the best ground to dissolve Syarikat Chipsmore Sdn Bhd?

• Just and equitable

• The company is used for unlawful purposes

• The Company is unable to pay its debts

• The license of the company under Islamic Banking Act 1983 has been revoked.

Which of the followings are the reasons to winding up a company?

i. A company become insolvent

ii. It was ordered to wind up by the court

iii. The expiration of the company's life as per its constitution

iv. The death of one of its Board of Directors.

• i, ii, iii

• ii, iii, iv

• i, ii, iv

• i, iii, iv

By the provision of section 432 Companies Act 2016, the winding up of the company can either be .....

• Voluntary winding up

• Special winding up

• Compulsory winding up

• Ordinary winding up

The Voluntary winding up can either be .......

• creditors' voluntary winding up

• shareholders' voluntary winding up

• winding up by court order

• members' voluntary winding up

The declaration of solvency can best be defined as ......

• acknowledgement that the company is solvent

• acknowledgement that the company is insolvent

• acknowledgement that the company's affair is closed

• acknowledgement that the company is exist.