Companies Act 2014 section 561

Modes of winding up — general statement as to position under Act

Section 561 sets out the two ways in which a company may be wound up under the Companies Act 2014.

• A company can be wound up either by the court or voluntarily
• A court-ordered winding up is initiated through a petition to the court, typically by a creditor, a member, or the company itself
• A voluntary winding up is initiated by the company's members or creditors without the need for a court order
• These are the only two modes of winding up available under the Act