ACCA Certification Practice Test 2025 – All-in-One Guide to Secure Your Chartered Success!

In the context of voluntary liquidation for all other reasons, a special resolution is required, which means that it must be approved by at least 75% of the votes cast by shareholders. This higher threshold reflects the significant implications of entering into a liquidation process, as it involves the dissolution of the company’s operations and the winding up of its affairs.

The necessity for a special resolution ensures that a substantial majority of shareholders agree with such a critical decision, thereby providing a safeguard against potential disputes and ensuring that the shareholders are in consensus about the company’s direction. This requirement underscores the importance of the shareholders' interests and perspectives in significant company decisions, highlighting the need for a robust level of agreement when it comes to dissolving a business.

Other options imply lower thresholds for approval. For instance, ordinary resolutions typically require more than 50% approval, which may not ensure adequate consensus for such a grave decision as liquidation. Unanimous approval denotes total agreement, which is impractical in many corporate scenarios, whereas a simple majority would also not satisfy the need for a higher degree of approval in significant matters like liquidation.