CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 6 - Protection of company's property during administration  

SECTION 440A   WINDING UP COMPANY  

440A(1)  


A company under administration cannot be wound up voluntarily, except as provided by section 446A or 446AA .

440A(2)  
The Court is to adjourn the hearing of an application for an order to wind up a company if the company is under administration and the Court is satisfied that it is in the interests of the company ' s creditors for the company to continue under administration rather than be wound up.

440A(3)  
The Court is not to appoint a provisional liquidator of a company if the company is under administration and the Court is satisfied that it is in the interests of the company ' s creditors for the company to continue under administration rather than have a provisional liquidator appointed.


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