Companies Act 2014 section 704

Dissolution of company by court

Section 704 sets out the procedure by which a court may order the dissolution of a company during a court-directed winding up, including the liquidator's obligations and the consequences of non-compliance.

• The court may order the liquidator to apply back to the court for dissolution once the company's affairs are fully wound up; otherwise, the creditors' voluntary winding up dissolution procedure under section 706 applies by default.
• Where such a court order is made, the liquidator must apply for dissolution when it appears that all the company's affairs have been completely resolved.
• If the court is satisfied the affairs are fully wound up, it will order dissolution effective from the date of its order, and a certified copy must be sent to the Registrar within 21 days.
• A liquidator who fails to apply for dissolution when required, or who fails to forward the certified copy of the dissolution order to the Registrar within the 21-day deadline, commits a category 3 offence.

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