CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 5 - EXTERNAL ADMINISTRATION
PART 5.4 - WINDING UP IN INSOLVENCY
History
Heading substituted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
See s 1382-1383.
Division 4 - Application for order to wind up company in insolvency
History
Heading inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
See s 1382-1383.
SECTION 459R
PERIOD WITHIN WHICH APPLICATION MUST BE DETERMINED
459R(1)
[6 months]
An application for a company to be wound up in insolvency is to be determined within 6 months after it is made.
History
S 459R(1) inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
see s 1382-1383.
459R(2)
[Extension of period]
The Court may by order extend the period within which an application must be determined, but only if:
(a)
the Court is satisfied that special circumstances justify the extension; and
(b)
the order is made within that period as prescribed by subsection
(1), or as last extended under this subsection, as the case requires.
History
S 459R(2) inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
see s 1382-1383.
459R(3)
[Application automatically dismissed]
An application is, because of this subsection, dismissed if it is not determined as required by this section.
History
S 459R(3) inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
see s 1382-1383.
459R(4)
[Order subject to conditions]
An order under subsection
(2) may be made subject to conditions.
History
S 459R(4) inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
see s 1382-1383.
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