# The Insolvency (Northern Ireland) Order 1989, Article 70: Circumstances in which company may be wound up voluntarily

Extent: N.I.

(1 ) A company may be wound up voluntarily—
(a) when the period (if any) fixed for the duration of the company by its articles expires, or the event (if any) occurs, on the occurrence of which its articles provide that the company is to be dissolved, and the company in general meeting has passed a resolution requiring it to be wound up voluntarily;
(b) if the company resolves by special resolution that it be wound up voluntarily;
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(1A) Before a company passes a resolution for voluntary winding up it must give written notice of the resolution to the holder of any qualifying floating charge to which Article 59A applies.
(1B) Where notice is given under paragraph (1A) a resolution for voluntary winding up may be passed only—
(a) after the end of the period of 5 business days beginning with the day on which the notice was given, or
(b) if the person to whom the notice was given has consented in writing to the passing of the resolution.
(2) Chapter 3 of Part 3 of the Companies Act 2006 (resolutions affecting a company's constitution) applies to a resolution under sub-paragraph (a) of paragraph (1) as well as a special resolution under sub-paragraph (b).

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Source: https://www.legislation.gov.uk/nisi/1989/2405/article/70 (the official version)
Page: https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-70
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.