s.95Powers of the Court
95
Section 95Part 5 — Company Restructuring and Winding Up

Powers of the Court

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Upon hearing the winding up petition the Court may —
dismiss the petition;
adjourn the hearing conditionally or unconditionally;
make a provisional order; or
any other order that it thinks fit, but the Court shall not refuse to make a winding up order on the ground only that the company ’ s assets have been mortgaged or charged to an amount equal to or in exce ss of those assets or that the company has no assets.
The Court shall dismiss a winding up petition or adjourn the hearing of a winding up petition on the ground that the petitioner is contractually bound not to present a petition against the company.
If the petition is presented by members of the company as contributories on the ground that it is just and equitable that the company should be wound up, the Court shall have jurisdiction to make the following orders, as an alternative to a winding - up order, namely —
an order regulating the conduct of the company ’ s affairs in the future;
an order requiring the company to refrain from doing or continuing an act complained of by the petitioner or to do an act which the petitioner has complained it has omitted to do;
an order authorising civil proceedings to be brought in the name and on behalf of the company by the petitioner on such terms as the Court may direct; or
an order providing for the purchase of the shares of any members of the co mpany by other members or by the company itself and, in the case of a purchase by the company itself, a reduction of the company ’ s capital accordingly.
Where an alternative order under subsection (3) requires the company not to make any, or any specifi ed, alteration in the memorandum or articles of association, the company does not have power, without the leave of the Court, to make any such alteration in breach of that requirement.
Any alteration in a company ’ s memorandum or articles of association made by virtue of an alternative order under subsection (3) is of the same effect as if duly made by resolution of the company, and the provisions of this Act shall apply to the memorandum or articles of association as so altered accordingly.
A copy o f an alternative order made under subsection (3) altering, or giving leave to alter, a company ’ s memorandum or articles of association shall be filed by the company with the Registrar within fourteen days of the making of the order.

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