Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.6
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WINDING UP GENERALLY
Division 1A
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When winding up taken to begin
SECTION 513B
513B
VOLUNTARY WINDING UP
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 the company ' s creditors:
(da)
if the resolution is taken to have been passed under section
446AA
because of:
Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .
View history note
Hide history noteWhere 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 the company ' s creditors:
(i) passed a resolution terminating a deed of company arrangement executed by the company; and
on the section 513C day in relation to the administration that ended when the deed was executed; or
(ii) also resolved under section 445E that the company be wound up;
[ 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[171] apply in relation to external administrations on and after 1 September 2017.]
(i) the making of an order under section 445D by the Court terminating a deed of company arrangement executed by the company; or
on the section 513C day in relation to the administration that ended when the deed was executed; or (db) if, immediately before the resolution was passed, the company was under restructuring - on the section 513CA day in relation to the restructuring; or (dc) if, immediately before the resolution was passed, a restructuring plan had been made by the company but had not yet terminated - on the section 513CA day in relation to the restructuring that ended when the plan was made; or (e) otherwise - on the day on which the resolution was passed.
(ii) the existence of circumstances that are specified in a deed of company arrangement executed by the company to be circumstances in which the deed is to terminate and the company is to be wound up;