Section 136A : Special arrangement regarding the winding up of the Company

1) Notwithstanding anything contained elsewhere in this Act, a company which at the commencement of this section was not in business or was not in operation, which has not furnished the particulars pursuant to section 80 or which has not paid the penalty imposed pursuant to section 81, may, if it so desires, within two years from the date of commencement of this section, cancel the registration of such company, by resolution of the general meeting of such company and make a representation before the office in the prescribed format.

2)The application pursuant to sub-section (1) shall be accompanied by a statement pursuant to section 80, including the amount of the penalty to be imposed pursuant to section 81 or the amount of the amount, whichever is less, to be zero point five per cent of the paid-up capital of the company.

3)If an application is made pursuant to subsection (1), the Office may cancel the registration of such company by completing the process pursuant to section 136.

4)If the company is dissolved pursuant to this section, the liability of such company shall be provided for in accordance with section 136.