ACT 100
TRUST COMPANIES ACT 1949 (REVISED - 1973)

GENERAL



Section 33. Voluntary winding up or disposal of shares may be restrained.


So long as any estate in respect of which a trust company is trustee shall remain in whole or in part unadministered, it shall not be lawful to proceed to wind up the company voluntarily, unless with the sanction of the Court, and it shall be lawful for any person interested in the estate, or who may have any claim in respect thereof, to apply to the Court in a summary way by motion to restrain any director or any shareholder from disposing of any shares which the director or shareholder may hold in the company or to restrain the voluntary winding up of the company, and the Court shall have power to make such order as it deems just.


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