Governance Review Implementation (Treasury Portfolio Agencies) Act 2007 (74 of 2007)

Schedule 1   Amendments

Part 1   ASIC

Corporations Act 2001

19   After subsection 601AD(1)


Trust property vests in the Commonwealth

(1A) On deregistration, all property that the company held on trust immediately before deregistration vests in the Commonwealth. If property is vested in a liquidator on trust immediately before deregistration, that property vests in the Commonwealth. This subsection extends to property situated outside this jurisdiction.