Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 462

Standing to apply for winding up

             (1)  A reference in this section to an order to wind up a company is a reference to an order to wind up the company on a ground provided for by section 461.

             (2)  Subject to this section, any one or more of the following may apply for an order to wind up a company:

                     (a)  the company; or

                     (b)  a creditor (including a contingent or prospective creditor) of the company; or

                     (c)  a contributory; or

                     (d)  the liquidator of the company; or

                     (e)  ASIC pursuant to section 464; or

                      (f)  ASIC (in the circumstances set out in subsection (2A)); or

                     (h)  APRA.

          (2A)  ASIC may apply for an order to wind up a company under paragraph (2)(f) only if:

                     (a)  the company has no members; and

                     (b)  ASIC has given the company at least 1 month's written notice of its intention to apply for the order.

             (4)  The Court must not hear an application by a person being, or persons including, a contingent or prospective creditor of a company for an order to wind up the company unless and until:

                     (a)  such security for costs has been given as the Court thinks reasonable; and

                     (b)  a prima facie case for winding up the company has been established to the Court's satisfaction.

             (5)  Except as permitted by this section, a person is not entitled to apply for an order to wind up a company.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback