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 459S
COMPANY MAY NOT OPPOSE APPLICATION ON CERTAIN GROUNDS
459S(1)
[Demand may not ground opposition]
In so far as an application for a company to be wound up in insolvency relies on a failure by the company to comply with a statutory demand, the company may not, without the leave of the Court, oppose the application on a ground:
(a)
that the company relied on for the purposes of an application by it for the demand to be set aside; or
(b)
that the company could have so relied on, but did not so rely on (whether it made such an application or not).
History
S 459S(1) inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
see s 1382-1383.
459S(2)
[Ground material to solvency]
The Court is not to grant leave under subsection
(1) unless it is satisfied that the ground is material to proving that the company is solvent.
History
S 459S(2) inserted by No 210 of 1992, s 57 (effective 23 June 1993).
CCH Note:
see s 1382-1383.
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