Which of the Following Is Not Grounds Under S $\quad$ $\quad$

Which of the following is not grounds under s. 461 of the Corporations Act on which the court can order a winding up? I. $\quad$$\quad$ The comparyy has no members.
III. $\quad$ The compary has resolved that it be wourd up by the court.
III. $\quad$ The compary has not commenced business within three months of its incorporation.
IV. $\quad$ The court is of the opirion that it is just and equitable that the compary be wourd up.

A) III only
B) IV only
C) I and II only
D) III and IV only