(b) 
Requires candidates to explain what is meant by the two specific forms of voluntary liquidation.

(i) 2 marks Available for explaining what is meant by a members’ voluntary liquidation. To gain full marks, a clear explanation of the meaning and procedures relating to a members’ voluntary liquidation must be provided.
Both aspects must be considered to get all 2 marks.
1 mark Fair knowledge of the topic, but perhaps lacking in detail or not dealing with both aspects of the question.
0 marks No knowledge of the topic.

(ii) 2 marks are available for explaining what is meant by a creditors’ voluntary liquidation.
2 marks Good knowledge clearly explained with reference to the companies legislation. To gain full marks, a clear explanation of the meaning and procedures relating to a creditors’ voluntary liquidation must be provided.
1 mark Clear understanding, but perhaps lacking in detail or not dealing with both aspects of the question.
0 marks No knowledge of the topic.