A critical assessment of dissolution of companies under the Companies Act 2012

Thumbnail Image
Journal Title
Journal ISSN
Volume Title
Kampala International University; School of Law
The main objective of this study was to identify and analyze the laws relating to winding up of companies in Uganda. The study reviewed dissolution of a company in Uganda from 2011 to date. The study found out that various statutes in Uganda constitute the legal framework for dissolution of companies in Uganda. The study further found out that the insolvency Act 2011 is the major law governing liquidation in Uganda. The study concluded that even though the companies Act 2012 provides for Voluntary winding up of a company and the Insolvency Act 2011 also provides for Voluntary liquidation but in different scenarios. This creates a conflict in the laws because Uganda lacks a clear procedure governing voluntary winding up/liquidation of companies. The study recommended that before declaring a company insolvent, there should be prior assessment of the impact its dissolution will have to different stake-holders in the company and as such precautions should be taken in order to reduce or eliminate resulting consequences, for example loss of jobs, damage to business name, loss of business status through losing customer.
A dissertation submitted to the School of Law in partial fulfillment of the requirements for the Award of the Degree of Bachelor of Laws of Kampala International University
Dissolution of companies, Companies Act 2012