CORPORATIONS ACT 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.3A
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ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT
Division 6
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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.
A company under administration cannot be wound up voluntarily, except as provided by section 446A or 446AA .
View history note
Hide history noteThe 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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