(4)The circumstances in which an unregistered company may be wound-up are as follows:-(a)if the company is dissolved, or has ceased to carry on business, or is carrying on business only for the purpose of winding up its affairs;(b)if the company is unable to pay its debts;(c)if the [Tribunal] [ Substituted by Act 11 of 2003, Section 115, for " Court" .] is of opinion that it is just and equitable that the company should be wound-up.
