Section 350: Notice of resolution to wind up voluntarily

350. Notice of resolution to wind up voluntarily.–(1) Notice of any resolution for winding up a company voluntarily shall be given by the company within ten days of the passing of the same by advertisement in a newspaper in English and Urdu languages at least in one issue each of a daily newspaper of respective language having wide circulation and a copy thereof shall be sent to the registrar immediately thereafter. (2) Any contravention or default in complying with requirement of this section shall be an offence liable to a daily penalty of level 1 on the standard scale. (3) For the purpose of this section, a liquidator of a company shall be deemed to be an officer of the company.

Effective date: 2017-05-30

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