Companies. [Ch. 31. No. 1.

dissenting shareholder within one month from the date
on which the notice was given the Court thinks fit to order
otherwise, be entitled and bound to acquire those shares
on the terms on which under the scheme or contract the
shares of the approving shareholders are to be transferred
to the transferce company.

(2) Where a notice has been given by the transferee
company under this section and the Court has not, on an
application made by the dissenting shareholder, ordered to
the contrary, the transferee company shall, on the expiration
of one month from the date on which the notice has been
given, or, if an application to the Court by the dissenting
shareholder is then pending, after that application has been
disposed of, transmit a copy of the notice to the transferor
company and pay or transfer to the transferor company
the amount or other consideration representing the price
payable by the transferee company for the shares which
by virtue of this section that company is entitled to acquire,
and the transferor company shall thereupon register the
transferee company as the holder of those shares.

(3) Any sums received by the transferor company
under this section shall be paid into a separate bank account,
and any such sums and any other consideration so received
shall be held by that company on trust for the several
persons entitled to the shares in respect of which the said
sums or other consideration were respectively received.

(4) In this section the expression “ dissenting
shareholder ’’ includes a shareholder who has not assented
to the scheme or contract and any shareholder who has
failed or refused to transfer his shares to the transferee
company in accordance with the scheme or contract.

PART V.
WINDING UP.

(i) PRELIMINARY.
Modes of winding up.
154. (1) The winding up of a company may be either—
(a) by the Court; or
(b) voluntary; or
(c) subject to the supervision of the Court.

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Modes of
winding up.