This is the same as the existing law except for a slight change. Section 198 of the 1908 Act provides that where a company was being wound up voluntarily, and an order is subsequently made for winding up by the court, the court may if it thinks fit provide by order for the adoption of all or any of the proceedings in the voluntary winding up. This is now being changed in subsection (1). It is there declared that where a resolution has been passed by the company for voluntary winding up, the winding up of the company shall be deemed to have commenced at the time of the passing of the resolution, and unless the court, on proof of fraud or mistake, thinks fit to direct otherwise, all proceedings taken in the voluntary winding up shall be deemed to have been validly taken.
SECTION 220.
Question proposed : "That Section 220 stand part of the Bill."
The reasons for that are mostly for procedure ?
To avoid duplication.
And also what can happen in between.
Question put and agreed to.