Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (130 of 2020)

Schedule 3   Simplified liquidation

Corporations Act 2001

5   Section 489F

Insert:

triggering event : each of the following is a triggering event in relation to a company:

(a) a special resolution under section 491 that the company be wound up voluntarily is passed;

(b) if section 446A applies in relation to the company because of paragraph 446A(1)(a) - the resolution referred to in that paragraph is passed;

(c) if section 446A applies in relation to the company because of paragraph 446A(1)(b) - the company first contravenes subsection 444B(2);

(d) if section 446A applies in relation to the company because of paragraph 446A(1)(c) - the resolution referred to in subparagraph 446A(1)(c)(ii) is passed;

(e) if section 446AA applies in relation to the company because of paragraph 446AA(1)(a) - the Court makes an order under section 445D terminating a deed of company arrangement in relation to the company;

(f) if section 446AA applies in relation to the company because of paragraph 446AA(1)(b) - the circumstances specified in the deed of company arrangement in which the deed is to terminate and the company is to be wound up first exist;

(g) if regulations made for the purposes of section 446B have the effect that the company is taken to have passed a special resolution under section 491 that the company be wound up voluntarily - that special resolution is taken to have passed, under the regulations;

(h) any other event prescribed by the regulations.