Corporations Act 2001
View history note
Hide history noteIf an unacceptable control situation exists in relation to a licensed trustee company, the Court may make such orders as the Court considers appropriate for the purpose of ensuring that the unacceptable control situation ceases to exist.
601VAC(2)
However, the Court may only make orders under this section on application by: (a) the Minister; or (b) ASIC; or (c) the trustee company; or (d) a person who has any voting power in the trustee company; or (e) a client of the trustee company.
601VAC(3)
The Court's orders may include: (a) an order directing the disposal of shares; or (b) an order restraining the exercise of any rights attached to shares; or (c) an order prohibiting or deferring the payment of any sums due to a person in respect of shares held by the person; or (d) an order that any exercise of rights attached to shares be disregarded; or (e) an order directing any person to do or refrain from doing a specified act, for the purpose of securing compliance with any other order made under this section; or (f) an order containing such ancillary or consequential provisions as the Court thinks just.
601VAC(4)
Subsection (3) does not, by implication, limit subsection (1) .
601VAC(5)
Before making an order under this section, the Court may direct that notice of the application be given to such persons as the Court thinks fit or be published in such manner as the Court thinks fit, or both.
601VAC(6)
The Court may, by order: (a) rescind, vary or discharge an order made by the Court under this section; or (b) suspend the operation of such an order.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
