Corporate Insolvency and Restructuring (Amendment) Act, 2020 (ACT 1031)

This amendment expands who may petition the Court for a company’s official winding-up, including the Registrar, certain company stakeholders, and in limited cases the Attorney-General.

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Jurisdiction: Ghana
Instrument: Act or statute
Citation: Act 1031
Version: Undated source snapshot
Language: en
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amendment winding-up

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Provisions of Corporate Insolvency and Restructuring (Amendment) Act, 2020 (ACT 1031)

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Corporate Insolvency and Restructuring (Amendment) Act, 2020 (ACT 1031)
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AI-assisted research summary: This amendment expands who may petition the Court for a company’s official winding-up, including the Registrar, certain company stakeholders, and in limited cases the Attorney-General.

1 CORPORATE INSOLVENCY AND RESTRUCTURING (AMENDMENT) ACT, 2020 (ACT 1031) ARRANGEMENT OF SECTION Section Section 84 of Act 1015 amended 2 ACT, 2020 THE ONE THOUSAND AND THIRTY-FIRST ACT OF THE PARLIAMENT OF THE REPUBLIC OF GHANA ENTITLED CORPORATE INSOLVENCY AND RESTRUCTURING (AMENDMENT) ACT, 2020 AN ACT to amend the Corporate Insolvency and Restructuring Act, 2020 (Act 1015) to empower the Registrar, a creditor of a company, a member of a company with shares, a contributory of a company or the Attorney-General to petition the Court for the official winding-up of a company in all the circumstances specified in subsection (2) of section 84 of Act 1015. DATE OF ASSENT: 27thOctober, 2020. PASSED by Parliament and assented to by the President Section 84 of Act 1015 amended The Corporate Insolvency and Restructuring Act, 2020 (Act 1015) is amended in section 84 by the— (a) substitution for subsection (1), of— "(1) The following persons may present a petition to the Court for the official winding-up of a company, in the circumstances specified in subsection (2): (a) the Registrar, (b) a creditor of the company, (c) a member of the company with shares, or (d) a contributory of the company."; and (b) insertion after subsection (1) of a new subsection (1A) as follows: 3 "(1A) The Attorney-General may present a petition to the Court for the official winding-up of the company only in the circumstances specified in paragraphs (c), (d) and (e) of subsection (2).". Date of Gazette Notification: 27th October, 2020.

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Corporate Insolvency and Restructuring (Amendment) Act, 2020 (ACT 1031)

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