(1)When the affairs of a company have been completely wound-up [or when the [Tribunal][is of the opinion that the Liquidator cannot proceed with the winding up of a company for want of funds and assets or for any other reason whatsoever and it is just and reasonable in the circumstances of the case that an order of dissolution of the company should be made] [ Inserted by Act 65 of 1960, Section 177 (w.e.f. 28.12.1960).], the [Tribunal] [ Substituted by Act 11 of 2003, Section 81, for " Court" .] shall make an order that the company be dissolved from the date of the order, and the company shall be dissolved accordingly.
