Free legislation on LexisWeb is as enacted and does not take into account any amendments

Full Table of Contents

Termination: voluntary winding-up43Winding-up resolution

(1)    A winding-up resolution in respect of a commonhold association shall be of no effect unless—

(a)    the resolution is preceded by a declaration of solvency,

(b)    the commonhold association passes a termination-statement resolution before it passes the winding-up resolution, and

(c)    each resolution is passed with at least 80 per cent of the members of the association voting in favour.

(2)    In this Part—

“declaration of solvency” means a directors' statutory declaration made in accordance with section 89 of the Insolvency Act 1986 (c 45),

“termination-statement resolution” means a resolution approving the terms of a termination statement (within the meaning of section 47), and

“winding-up resolution” means a resolution for voluntary winding-up within the meaning of section 84 of that Act.

NOTES
Initial Commencement
To be appointed

To be appointed: see s 181(1).
Termination of Commonhold92 Liquidation92 Insolvency Law92 Voluntary Winding Up92 Real Property Law95 Commonhold95 Landlord & Tenant95

Full Table of Contents

Practice Areas

Lexis®Library

  • Authoritative guides to the status of statutory provisions and their meaning from a range of titles from Butterworths, Halsbury's Statutes and TolleyView other related LexisLibrary annotations
  • The current law in England and Wales, consolidated by the incorporation of amendments into existing legislation, by an expert team of editorsView Consolidated Version
  • Indicates the date on which a section of an enactment was brought into force, powered by Halsbury's Is It In ForceView current status of this Act
  • Cases related to this particular case that are related to, or discuss this caseView related cases
  • Official explanatory notes that further explain the effects of the Act and summarise what the Act sets out to achieveView official explanatory notes
  • Commentary discussing this particular case from LexisLibrary's comprehensive range of titles including Butterworths, Halsbury's and TolleyView all related commentary
  • An authoritative guide to the status of statutory provisions and their meaning, including definitions, cross-references and information on commencement and amendmentView Halsbury Statutes Citator
  • Subordinate legislation is made under the authority of a provision (or provisions) of an Act (or Acts) of ParliamentView all subordinate legislation