Companies Act (Cap. 386), article 223

223. ( 1 ) W h e r e a w i n d i n g u p o r d e r h a s b e e n m a d e , t h e company shall be deemed to have been dissolved at the time of t he filing of the winding up application: Provided that where a winding up order has been made in terms of article 214(2)( b)(iii), the company shall be deemed to have been dissolved on the date whe n the winding up order is made: Provided further that where a winding up order has been made by virtue of article 218(1)( a), the date of dissolution shall be the date of passing of the resolution for dissolution and consequential winding up by the Co urt or such later date as may be specified in the said resolution. (2) Notwithstanding the provisions of sub-article (1), where, before the filing of a winding up application, an extraordinary resolution had been passed by the company for it to be dissolved and consequently wound up voluntarily, the company shall be deemed to have been dissolved at the time of the passing of the resolution, and unless the court, upon proof of fraud or mistak e thinks fit otherwise to direct, all proceedings t aken in the vo luntary winding up shall be deemed t o have been validly taken. Consequences of a winding up order. Amended by: XXIV .1995.362; IV . 2003.97.