# Commonhold and Leasehold Reform Act 2002, Section 43: Winding-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.

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Source: https://www.legislation.gov.uk/ukpga/2002/15/section/43 (the official version)
Page: https://openlegislation.uk/commonhold-and-leasehold-reform-act-2002/section-43
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.