What type of resolution is required for voluntary liquidation if not provided for in the articles?

In the context of voluntary liquidation, a special resolution is required when the articles of association do not specify the procedure to be followed. A special resolution is taken when at least 75% of the voting members agree to it. This threshold is important to ensure that a significant majority of members supports the decision to liquidate, reflecting a strong consensus among shareholders given that liquidation can have substantial implications for the company.

When a company opts for voluntary liquidation, it is typically a decision that needs careful consideration, as it can affect not just the business operations but also the rights and investments of the shareholders. Therefore, the requirement for a special resolution ensures that such consequential decisions are made with a larger majority, reflecting a more democratic approach to governance within the company.

In contrast, other types of resolutions like an ordinary resolution only require a simple majority to pass, making them insufficient for such significant decisions as voluntary liquidation. Similarly, unanimous resolutions imply that all members must agree, which can be impractical. Majority resolutions also tend to imply a lower threshold than what is required in this context.