Commonhold and Leasehold Reform Act 2002
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Change 1
43 Winding-up resolution
(1) A winding-up resolution in respect of a commonhold association shall be of no effect unless— (a) the resolution is preceded by a declaration of solvency, (b) the commonhold association passes a termination-statement resolution before it passes the winding-up resolution, and (c) each resolution is passed with at least 80 per cent. of the members of the association voting in favour. (2) In this Part— “declaration of solvency” means a directors’ statutory declaration made in accordance with section 89 of the Insolvency Act 1986 (c. 45), “termination-statement resolution” means a resolution approving the terms of a termination statement (within the meaning of section 47), and “winding-up resolution” means a resolution for voluntary winding-up within the meaning of section 84 of that Act.
43 Winding-up resolution
(1) A winding-up resolution in respect of a commonhold association shall be of no effect unless— (a) the resolution is preceded by a declaration of solvency, (b) the commonhold association passes a termination-statement resolution before it passes the winding-up resolution, and (c) each resolution is passed with at least 80 per cent. of the members of the association voting in favour. (2) In this Part— “declaration of solvency” means a directors’ statutory declaration made in accordance with section 89 of the Insolvency Act 1986 (c. 45), “termination-statement resolution” means a resolution approving the terms of a termination statement (within the meaning of section 47), and “winding-up resolution” means a resolution for voluntary winding-up within the meaning of section 84 of that Act.
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