Voluntary dissolution 

76. (a) A company may be wound up as stated in section 75 (a) of this Act if the board by resolution, confirmed by special resolution in a general meeting, decides to do so. 

 (b) The general meeting of the company passing the winding up resolution shall appoint a person or persons to undertake the winding up process as well as fix their remuneration and make available to the person pre persons the balance sheet of the company, details of the assets, liabilities, other obligations of the company, the names and addresses of the creditors and if a creditor’s credit is secured by a mortgage, details of any such mortgage. 

 (c) The person or persons appointed to wind up the company shall within seven days of their appointment inform the registrar of their appointment and give notice of it by a public announcement and shall commence the winding up process in accordance with this Act and regulations made under this Act. 

 (d) If the person or persons appointed to wind up the process is unable to discharge their duties due to permanent disability or by death or resignation by the company shall convene general meeting of the company to appoint a replacement. 
 
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