Which one of the following statements describes the difference between a members' voluntary winding up and a creditors' voluntary winding up?

a) If a majority of the directors make a declaration of solvency, the winding up will be a members' voluntary winding up. If no such declaration is made, it will be a creditors' voluntary winding up.

b) A creditors' voluntary winding up is commenced by the creditors, whereas a members' voluntary winding up is commenced by the members.

c) A members' voluntary winding up is commenced by passing a special resolution, whereas a creditors' voluntary winding up does not require a special resolution.