21Winding up by the Court

21 Winding up by the Court

21 Winding up by the Court

(1) The Court may order the winding up of a body corporate created by this Act if—

(a) at least 75 per cent of the members of the body corporate have passed a resolution in favour of winding up by the Court, or

(b) the community of whose land the body corporate is the trustee has suspended its operations or religious duties, or both, for a continuous period of not less than 12 months (whether before or after the commencement of this section) immediately before the order is made, or

(c) the body corporate is unable to meet its liabilities, or

(d) the Court is otherwise of the opinion that it is just and equitable that the body corporate be wound up.

(2) An application to the Court for the winding up of a body corporate may be made by—

(a) the body corporate (but only if a resolution is passed by at least 75 per cent of the members of the body corporate in favour of making the application), or

(b) the Bishop of the relevant Diocese.

ss 20–27: Ins 2001 No 11, Sch 1 [10] (am 2001 No 34, Sch 4.56 [1]–[4]).