(a). The two types of winding up, Sec 274 of Act 992:

• Official liquidation under Act 180
• Private liquidation under Act 992

(b). Role of the registrar:

• The final dissolution after being satisfied of the completion of winding up.
• Appears before a court on application of stay of liquidation procedures.
• Often acts as liquidator if appointed so in a private liquidation OR as official liquidator in compulsory winding up.
• Registration of court orders and resolutions and gazette of same, if required.
• Conversion of private liquidation into official one upon a report from a liquidator.
• Petitions the court for an official winding up, etc.

(c). Rights of minority on acquisition of a subsidiary company, Section 260 of Act 992:

• Receive notice to that fact as to the remaining shares of the class of shares in a prescribed form.
• Give notice within three months requiring the transferee company to acquire all or any of his shares.
• The transferee company is bound to acquire those shares on the terms of the offer, or as agreed by the parties, or as deemed fit and ordered by a court upon application by either party.

(d).

‘Statement of Affairs’, Sec 19 of Act 180:
A written statement in a prescribed form to be submitted to the liquidator within 14 days or a period specified by him.
Verified by an affidavit stating:

• Particulars of all assets.
• Reasons for the insolvency.
• Debts and liabilities, including particulars of transactions for specified periods.
• Details of creditors and securities held.
• Such further information required by the liquidator, e.g., details of pending litigation.