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CORPORATIONS ACT 2001 - SECT 513B

Voluntary winding up

                   Where a company resolves by special resolution that it be wound up voluntarily, the winding up is taken to have begun or commenced:

                     (a)  if, when the resolution was passed, a winding up of the company was already in progress--when the last-mentioned winding up is taken because of this Division to have begun or commenced; or

                     (b)  if, immediately before the resolution was passed, the company was under administration--on the section 513C day in relation to the administration; or

                     (c)  if, immediately before the resolution was passed, a deed of company arrangement had been executed by the company but had not yet terminated--on the section 513C day in relation to the administration that ended when the deed was executed; or

                     (d)  if the resolution is taken to have been passed because the company's creditors:

                              (i)  passed a resolution terminating a deed of company arrangement executed by the company; and

                             (ii)  also resolved under section 445E that the company be wound up;

                            on the section 513C day in relation to the administration that ended when the deed was executed; or

                   (da)  if the resolution is taken to have been passed under section 446AA because of:

                              (i)  the making of an order under section 445D by the Court terminating a deed of company arrangement executed by the company; or

                             (ii)  the existence of circumstances that are specified in a deed of company arrangement executed by the company to be circumstances in which the deed is to terminate and the company is to be wound up;

                            on the section 513C day in relation to the administration that ended when the deed was executed; or

                     (e)  otherwise--on the day on which the resolution was passed.



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