Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.4C
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WINDING UP BY ASIC
SECTION 489EC
APPOINTMENT OF LIQUIDATOR
489EC(1)
If ASIC orders under section 489EA that a company be wound up, ASIC may appoint a liquidator for the purpose of winding up the affairs and distributing the property of the company.
489EC(2)
An appointment of a liquidator by ASIC must not be made without the written consent of the liquidator.
489EC(3)
A vacancy in the office of a liquidator appointed by ASIC is to be filled by the appointment of a liquidator by ASIC.
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 5 of Part 8B.6 .
View history note
Hide history noteIf ASIC orders under section 489EA that a company be wound up, ASIC may appoint a liquidator for the purpose of winding up the affairs and distributing the property of the company.
Note: For the remuneration of liquidators appointed under this section, see Subdivision D of Division 60 of Schedule 2 .
[ CCH Note: Regulation 10.25.02(3)(h) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2[157] apply in relation to external administrations on and after 1 September 2017.]
489EC(2)
An appointment of a liquidator by ASIC must not be made without the written consent of the liquidator.
489EC(3)
A vacancy in the office of a liquidator appointed by ASIC is to be filled by the appointment of a liquidator by ASIC.
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