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Voluntary liquidation is a winding up procedure in which a company passes a resolution for voluntary winding up. It is governed by section 221 of Cap 212.
Involuntary liquidation is mode of winding up a company which is made compulsorily. It is not voluntary and it is made by the Court. The circumstances when the company can be involuntarily wound up is governed by the provisions of section 167 e.g where a company reduces the number of members below that stipulated in Cap. 212
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