Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006 (125 of 2006)

Schedule 3   Transitional provisions

Part 2   Bringing transitional corporations across to new system

Division 15   Winding up

72   Grounds for Court ordered winding up

Section 526-5 of the new Act applies in relation to a transitional corporation as if:

(a) the reference in paragraph (b) of that section to the corporation's registration were a reference to its incorporation under Part IV of the old Act; and

(b) the reference in paragraph (j) of that section to section 439-20 of the new Act included a reference to section 60A of the old Act; and

(c) the reference in paragraph (k) of that section to Part 7-3 of the new Act included a reference to:

(i) subsections 59(2) to (9) of the old Act; and

(ii) Division 10 or 11 of this Part.

Note: The operation of section 526-5 of the new Act is also extended by item 6 so that the grounds in that section extend to circumstances existing before commencement.