[96 Conversion to creditors' voluntary winding up]
[96 Conversion to creditors' voluntary winding up]

[(1)     The winding up becomes a creditors' voluntary winding up as from the day on which—

(a)     the company's creditors under section 95 nominate a person to be liquidator, or

(b)     the procedure by which the company's creditors were to have made such a nomination concludes without a nomination having been made.

(2)     As from that day this Act has effect as if the directors' declaration under section 89 had not been made.

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