(1) Except in the case of bankruptcy according to the prevailing law on bankruptcy, the shareholders of the company may dissolve (liquidate) the company by passing a special resolution in the general meeting or subject to the provisions written in the articles of association, regulations or unanimous agreement.< br> (2) A company may be dissolved in accordance with this Act if the following conditions exist:
(a) If the company is able to pay its debts or other liabilities in full,
(b) If the company is not in a state of action on the request for review of the company according to the prevailing law related to marriage or if the company is not subject to any action related to marriage under the prevailing law related to marriage,
(c) After appropriate investigation, the company is capable of paying the debts and other liabilities in full and the debts and liabilities to be paid on behalf of such company can be repaid within one year from the date of passing of the resolution to liquidate the company or can be completely discharged by any other process. If the directors have made a written announcement about,
(d) If the written declaration made by the director in accordance with clause (c) is submitted to the general meeting called to discuss the matter of liquidation of such company, or if such declaration is made at any time when the matter is being discussed in the general meeting.
(3) A copy of the special resolution passed regarding the dissolution of the company according to this section and the written declaration of the directors shall be submitted to the office within seven days from the date of passing the said resolution.