Statutory Liquidation definition

Statutory Liquidation means the liquidation of the Corporation pursuant to Section 275 of the GCL, as amended.

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Statutory Liquidation means the liquidation of the Corporation --------------------- pursuant to Section 275 of the GCL.

Examples of Statutory Liquidation in a sentence

• Upon completion of the winding up of the business of the Partnership in accordance this Clause 11.2 of Part 1, the Liquidator shall, at such time as the Liquidator deems appropriate having regard to all of the circumstances of the winding up of the business of the Partnership make a determination to commence the statutory voluntary liquidation of the Partnership for the purposes of the Partnership Act (the Statutory Liquidation Determination ).

• Prior to the date of the Statutory Liquidation Determination, no person serving as Liquidator shall be a liquidator for the purposes of the Partnership Act.

• For the avoidance of doubt, the Statutory Liquidation Determination shall constitute a specified event for the purposes of sections 36(1)(a) and 36(10)(d) of the Partnership Act and, with effect from the date of such Statutory Liquidation Determination, the Liquidator shall proceed with the statutory voluntary liquidation of the Partnership in accordance with the requirements of the Partnership Act.