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 5C - MANAGED INVESTMENT SCHEMES
History
Chapter 5C inserted by No 62 of 1998, Sch 1 (effective
1 July 1998).
PART 5C.9 - WINDING UP
History
Part 5C.9 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
SECTION 601ND
WINDING UP ORDERED BY COURT
601ND(1)
[Court's power]
The Court may, by order, direct the responsible entity of a registered scheme to wind up the scheme if:
(a)
the Court thinks it is just and equitable to make the order; or
(b)
within 3 months before the application for the order was made, execution or other process was issued on a judgment, decree or order obtained in a court (whether an Australian court or not) in favour of a creditor of, and against, the responsible entity in its capacity as the scheme's responsible entity and the execution or process has been returned unsatisfied.
History
S 601ND(1) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
601ND(2)
[Application to Court]
An order based on paragraph
(1)(a) may be made on the application of:
(a)
the responsible entity; or
(b)
a director of the responsible entity; or
(c)
a member of the scheme; or
(d)
ASIC.
History
S 601ND(2) amended by 54 of 1998, Sch 6, Pt 2 (effective 1 July 1998).
S 601ND(2) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
601ND(3)
[Creditors]
An order based on paragraph
(1)(b) may be made on the application of a creditor.
History
S 601ND(3) inserted by No 62 of 1998, Sch 1 (effective 1 July 1998).
View history note
Hide history note