Section 118Part 5 — Company Restructuring and Winding Up
Effect on business and status of the company
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In the case of a voluntary winding up, the company shall from the commencement of its winding up cease to carry on its bus iness except so far as it may be beneficial for its winding up.
Notwithstanding anything to the contrary contained in the company ’ s articles of association, its corporate state and powers shall continue until the company is dissolved.