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294. Dissolution and early dissolution

(1) Subsections (2) and (3) of this Section apply, where the liquidator has sent to creditors his final account and return.
(2) On the expiration of three (3) months from the date of dispatch of the final account and return the Company is deemed to be dissolved.
(3) However, the Court may, on the application of the liquidator or any other person who appears to the Court to be interested, make an order deferring the date at which the dissolution of the Company is to take effect for such time as the Court thinks fit.
(4) It is the duty of the person on whose application an order of the Court under subsection (3) is made to deliver a copy of the order to the Registrar for registration. If the person fails to do so, he commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.
(5) Where the realisable assets of the Company are insufficient to cover the expenses of the winding-up, and the affairs of the Company do not require any further investigation, the liquidator may at any time apply to the Registrar for the early dissolution of the Company.
(6) Before making an application under subsection (5), the liquidator shall give not less than twenty-eight (28) days' notice of his intention to do so to the Company's creditors and contributories and to any administrative receiver.
(7) On the expiration of three (3) months from the date of receipt of the application by the Registrar under subsection (5), the Company is dissolved.