23Winding up

#### 23 Winding up 23 Winding up > If any of the objects specified in section five of this Act shall fail or if from insufficiency of funds or from any other cause it shall at any time hereafter be found that the Body Corporate cannot be properly worked and carried on according to the true intent and meaning of this Act it shall be lawful for a Special General Meeting of the Body Corporate called for the purpose of taking into consideration the propriety of winding up the affairs thereof to pass a Resolution to that effect and the manner in which the net proceeds shall be applied but such Resolution shall have no force or effect until confirmed by the votes of three-fourths of the members present at another Special General Meeting to be held not later than one calendar month after the previous meeting.