How can the life of a company come to an end?

The company comes an end when it is wound up by order of a Court (High Court) according to section 157(1) of Cap 212, the company’s wound up can be undertaken by the Court or Voluntary or subject to supervision of the court. The circumstances which the company can wound up by the court are provided for under section 167(a)-(f) e.g where the company does not commence its business within a year from its incorporation. The circumstances for voluntary wound up are provided in section 221 (1)(a)-(c) i.e where fixed duration of existence of the company expires.

The winding up supervised by the court is governed by section 252. It happens where the company passes resolution for voluntary winding up and the court is of the opinion that the wound up of the company be supervised by it.