Company – A company is a authorized entity or a corporation which carries out a enterprise. A firm is further divided to sub-firms.
The Insolvency Act, 2011, repealed parts of the repealed Companies Act relating to winding up. However, member’s voluntary winding up remains to be reproduced in the new Act. The definition section of the brand new Act in defining ‘members’ voluntary winding up’ refers one to the definition of member’s voluntary winding up within the Insolvency Act because the legislation governing insolvency in Uganda. The Uganda Insolvency Act was assented to on eighth August, 2011 and got here into drive on the identical day as the brand new Companies Act. It amends and consolidates all legal guidelines referring to insolvency. It repeals the Bankruptcy Act (Cap. 67), the Deeds of Arrangement Act (Cap. 75) and components VI (Winding up), VII (Receivers and Managers) and IX (Winding up of … Read more