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 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
History
Pt 5.3A inserted by No 210 of 1992, s 56 (effective 23 June
1993).
Division 6 - Protection of company's property during administration
History
Heading inserted by No 210 of 1992, s 56 (effective 23 June
1993).
SECTION 440A
WINDING UP COMPANY
440A(1)
[No voluntary winding up]
A company under administration cannot be wound up voluntarily, except as provided by section
446A.
History
S 440A(1) inserted by No 210 of 1992, s 56 (effective 23 June 1993).
440A(2)
[Winding up application to be adjourned]
The Court is to adjourn the hearing of an application for an order to wind up a company if the company is under administration and the Court is satisfied that it is in the interests of the company's creditors for the company to continue under administration rather than be wound up.
History
S 440A(2) inserted by No 210 of 1992, s 56 (effective 23 June 1993).
440A(3)
[Provisional liquidator]
The Court is not to appoint a provisional liquidator of a company if the company is under administration and the Court is satisfied that it is in the interests of the company's creditors for the company to continue under administration rather than have a provisional liquidator appointed.
History
S 440A(3) inserted by No 210 of 1992, s 56 (effective 23 June 1993).
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