Effect of voluntary winding up on status of company
Consequences of voluntary winding up
Effect of voluntary winding up on status of company.
487. In the case of a voluntary winding up, the company shall, from the commencement of the winding up, cease to carry on its business, except so far as may be required for the beneficial winding up of such business :
Provided that the corporate state and corporate powers of the company shall continue until it is dissolved.