THE CORPORATIONS LAW

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 1458   WINDING UP OF THE UNDERTAKING  

1458     The trustee or representative for the purposes of the deed must ensure that the undertaking is wound up in accordance with the deed in relation to the prescribed interests and with any orders under subsection 1459(2) if:

(a)  the holders of the prescribed interests decide, at a meeting convened for the purpose of paragraph 1456(2)(b) or 1457(1)(a), that the undertaking is to be wound up; or

(b)  the Court makes an order directing the management company to wind up the undertaking pursuant to an application under subsection 1457(2).