THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 11 - APPLICATION AND TRANSITIONAL PROVISIONS
PART 11.2 - COMMENCEMENT AND APPLICATION OF CERTAIN CHANGES TO THIS LAW
Division 11 - Changes resulting from the Managed Investments Act 1998
SECTION 1457 WHAT HAPPENS IF NEITHER OF THE BODIES GIVES A RETIREMENT NOTICE 1457(1) [No notice] If neither of the bodies gives a retirement notice during the first year after the commencement, the management company must: (a) as soon as practicable after the end of that year, convene a meeting of the holders of the prescribed interests to:(i) choose a proposed responsible entity for the purpose of making a registration application; or
(ii) decide that the undertaking is to be wound up; and(b) lodge a notice with ASIC setting out the outcome of the meeting.
Note 1:
For the powers of the proposed responsible entity, see section 1460. Note 2: For the procedure at the meeting, see section 1460.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.