Cap.6:07 INSOLVENCY No. 7/2018 determined by an investigation conducted in terms of section 158 of the Companies Act [Chapter 24:31 j; (ii) if default is made in lodging the statutory report or in holding the statutory meeting in terms of the Companies Act [Chapter 24:311; (iii) if the company or private business corporation does not commence its business within a year from its incorporation or suspends its business for a whole year; (iv) if the company or private business corporation ceases to have any members; (v) if seventy-five per centum of the paid -up share capital of the company has been lost or has become useless for the business of the company; (f) by the corporate rescue practitioner of a debtor appointed during corporate rescue proceedings who applies for liquidation under the provisions of Part XXIII, on the grounds that there is no reasonable prospect of the company being rescued; (g) jointly by any or all of the parties mentioned in paragraphs (a) to (f); (h) in the case of any debtor being liquidated voluntarily in terms of a liquidation resolution adopted in accordance with section 9 or I 0, by the Master, the debtor, or any creditor, shareholder or member of that debtor; (i) in the case of a judicial management order in terms of Part V of the Companies Act [Chapter 24:31), by the judicial manager of the debtor; U) By the Registrar of Co-operative Societies in terms of section l 02 of the Co-operative Societies Act [Chapter 24:05]; (2) A shareholder or member may not apply to a Court as contemplated in subsection (l)(b), (c) or (d) unless the shareholder or member (a) has been a shareholder or member continuously for at least six months immediately before the date of the application; or (b) became a shareholder or member as a result of(i) acquiring another shareholder or member; or (ii) the distribution of the estate of a former shareholder or member, and the present shareholder or member, and other or former shareholder or member, in aggregate, satisfied the requirements of paragraph (a). (3) A Court may not make an order applied for in terms of subsection (l )(b), (c), or (d) if, before the conclusion of the Court proceedings, any of the directors or members have resigned, or have been removed in terms of section 193 of the Companies Act [Chapter 24:31], the Court concludes that the remaining directors or members were not materially implicated in the conduct on which the application was based. (4) Every application to the Court referred to in subsection (l), except an application by the registrar of companies in terms of subsection l(e) and the Master in terms of paragraph (h) of that subsection, must be accompanied by( a) a statement of affairs of the debtor corresponding substantially with Form A of the First Schedule; and (b) a certificate of the Master, issued not more than 14 days before the date on which the application is to be heard by the Court, that sufficient security has been given for the payment of all costs in respect of the application that might be awarded against the applicant. 207