THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.6 - WINDING UP GENERALLY

Division 1A - When winding up taken to begin

SECTION 513B   VOLUNTARY WINDING UP  

513B    Where a company resolves by special resolution that it be wound up voluntarily, the winding up is taken to have begun or commenced:

(a)  if, when the resolution was passed, a winding up of the company was already in progress - when the last-mentioned winding up is taken because of this Division to have begun or commenced; or

(b)  if, immediately before the resolution was passed, the company was under administration - on the section 513C day in relation to the administration; or

(c)  if, immediately before the resolution was passed, a deed of company arrangement had been executed by the company but had not yet terminated - on the section 513C day in relation to the administration that ended when the deed was executed; or

(d)  if the resolution is taken to have been passed because, at a meeting convened under section 445F, the company's creditors:

(i) passed a resolution terminating a deed of company arrangement executed by the company; and

(ii) also resolved under section 445E that the company be wound up;

on the section 513C day in relation to the administration that ended when the deed was executed;

(e)  otherwise - on the day on which the resolution was passed.