The dissolution of a company can result in its termination.
The company can be dissolved for a number of reasons:
- The expiry of the period specified in the Memorandum or the
Articles Of Association, unless the period is renewed in accordance
with the company's Memorandum and Articles.
- The objects of incorporating the company are exhausted.
- The depletion of all or most of the company's assets,
making it impossible to beneficially invest the remainder.
- Amalgamation.
- The unanimous agreement of the partners to terminate the
company's duration unless the company's Memorandum provides
for a specific majority.
The court may order the winding up of a partnership, a simple
partnership or a joint participation (venture) at the request of
one of the partners however, this must be a justifiable reason.
Moreover, where the Memorandum is considered to be terminated, the
company can be decreed dissolved. Dissolution can also be caused
where a public joint stock
