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Modifications etc. (not altering text)
C1Pt. 1: transfer of functions (11.4.2018) by The Secretaries of State for Health and Social Care and for Housing, Communities and Local Government and Transfer of Functions (Commonhold Land) Order 2018 (S.I. 2018/378), arts. 1(2), 11 (with arts. 12-14)
(1)A winding-up resolution in respect of a commonhold association shall be of no effect unless—
(a)the resolution is preceded by a declaration of solvency,
(b)the commonhold association passes a termination-statement resolution before it passes the winding-up resolution, and
(c)each resolution is passed with at least 80 per cent. of the members of the association voting in favour.
(2)In this Part—
“declaration of solvency” means a directors’ statutory declaration made in accordance with section 89 of the Insolvency Act 1986 (c. 45),
“termination-statement resolution” means a resolution approving the terms of a termination statement (within the meaning of section 47), and
“winding-up resolution” means a resolution for voluntary winding-up within the meaning of section 84 of that Act.