(1)  Despite the Companies Act,  1963  (Act  179)  or  any  other relevant enactment, a bank or specialised deposit-taking institution shall not wind up voluntarily unless the Bank of Ghana has certified in writing that that bank or specialised deposit-taking institution would be capable on its voluntary winding up, of meeting the obligations it has in respect of the depositors and creditors as the obligations accrue.

(2) Where the Bank of Ghana, at any stage of the voluntary winding up, considers that that bank or specialised deposit-taking institution which is winding up is unable to meet its obligations to depositors or creditors in full, the Bank of Ghana shall appoint a receiver to wind up the affairs of that bank or the specialised deposit-taking institution and sections 123 to 139 shall apply.