Companies Act, 1973 (Act No. 61 of 1973)

Chapter XIV: Winding-up of Companies

General

338. Application of repealed Act where winding-up has already commenced
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1)The provisions of this Act relating to the winding-up of a company shall not apply to any company if its winding-up was commenced before the commencement of this Act, and the winding-up of any such company shall be continued as if this Act had not been passed.

 

2)When a company having shares which are not fully paid-up, is wound up under this Act, the provisions of the repealed Act in respect of such shares and the contributories in relation thereto shall continue to apply in respect of such a company, notwithstanding the repeal of that Act.