Corporations Act 2001
Note: See section 600K .
PART 2 - REGISTERING AND DISCIPLINING PRACTITIONERS Division 40 - Disciplinary and other action Subdivision H - Consequences of certain disciplinary and other action CLAUSE 40-111 APPOINTMENT OF ANOTHER LIQUIDATOR IF LIQUIDATOR ' S REGISTRATION IS SUSPENDED OR CANCELLED 40-111(1)If:
(a) the registration of a liquidator is suspended or cancelled under this Division; and
(b) the liquidator is conducting the external administration of a company at the time the registration is suspended or cancelled;
ASIC may, in writing, appoint another registered liquidator to conduct the external administration of the company.
40-111(2)
If:
(a) a liquidator fails to renew his or her registration as a liquidator before that registration ceases to have effect; and
(b) no order has been made by the Court under subsection 20-70(3) extending the period during which the liquidator may apply for renewal; and
(c) the liquidator is conducting the external administration of a company at the time his or her registration as a liquidator ceases to have effect;
ASIC may, in writing, appoint another registered liquidator to conduct the external administration of the company.
40-111(3)
Subsections (1) and (2) do not apply to:
(a) a liquidator appointed by the Court; or
(b) a winding up ordered by ASIC under section 489EA ; or
(c) a members ' voluntary winding up.
Note: For court-appointed liquidators, see section 473A . For a winding up ordered by ASIC, see section 489EA . For a members ' voluntary winding up, see section 495 .
40-111(4)
An appointment of a registered liquidator by ASIC under subsection (1) must not be made without the written consent of the liquidator.
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.
