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The
Companies Act of Republic Of Maldives
Law No: 10/96 (An Unofficial Translation) Cessation of business on commencement of the winding up 77. The company shall from the passing of the resolution to wind up the company in accordance with subsection (a) of section 76 of this Act cease to carry on its business, except so far as may be required for its beneficial winding up. General meeting to dissolve the company 78. (a) A soon as the company affairs are fully wound up in accordance with this Act and regulations made under this Act the person or persons appointed as stated in sub-section (c) of section 76 shall convene a general meeting of the company. (b) Notice given to the members to attend the general meeting stated in sub-section (a) shall be by a public announcement. (c) The person or persons appointed by the company to wind it shall make up an account of the winding up showing how it has been conducted and the manner in which the properties, liabilities and other obligations of the company have been disposed and shall present the account to the general meeting stated in sub-section (a) of this section. Removal of the person appointed to wind up the company 79. If a creditor or a member
of the company lodges a complaint with the registrar of companies regarding
the actions of the person or persons appointed to liquidate the company
and if after a due investigation the registrar forms the opinion that the
actions of the person or persons appointed to wind up the company are unacceptable
the registrar of companies reserves the right to remove the person or persons
appointed by the company and direct the company to apply to the court for
the winding up.
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