Section 138: Effect of voluntary winding up(cid:3)
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
138. Effect of voluntary winding up(cid:3)
(1) A company shall, from the commencement of its winding up, cease
to carry on its business, except so far as is, in the opinion of the liquidator,
required for the beneficial winding up of the company.(cid:3)
(2) The corporate status and corporate powers of the company shall,
notwithstanding anything in the constitution, continue until it is dissolved.(cid:3)
(3) Any transfer of shares, not being a transfer made to or with the sanction of the liquidator, and any alteration in the status of the shareholders
made after the commencement of the winding up shall be void.(cid:3)