Section 221(5)

The circumstances in which an unregistered company may be wound up are as follows— if the company is dissolved, or has ceased to carry on business, or is carrying on business only for the purpose of winding up its affairs; if the company is unable to pay its debts; if the court is of opinion that it is just and equitable that the company should be wound up.

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Source: legislation.gov.uk · retrieved 2026-09-04