Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 459

459. (1) The Court may order the winding up of a company (other than a new
company) that is neither a trading corporation nor a banking corporation.

(2) Subsections (3), (4), (5) and (6) have effect for the purposes of an
application made in relation to a company on the ground provided for by
subsection (1).

(3) Unless the contrary is proved, the Court may presume that the company is
neither a trading corporation nor a banking corporation at a particular time
if, as at that time:

   (a)  the company:

        (i)    has contravened section 155; and

        (ii)   has lodged no annual return; or

   (b)  the company has lodged a notice under subsection 158 (3).

(4) Unless the contrary is proved, the Court may presume that the company is
neither a trading corporation nor a banking corporation at a particular time
if, as at that time:

   (a)  the company has contravened section 335 in relation to a particular
        financial year;

   (b)  the Commission has given to the company a written notice requiring the
        company to lodge its annual return for that financial year within a
        specified period of at least 28 days after the notice is so given; and

   (c)  that period has ended and the company has not lodged an annual return
        for that financial year that includes a statement complying with
        section 336.

(5) Unless the contrary is proved, the Court may presume that a company is not
a trading corporation at a particular time if:

   (a)  as at that time, the company:

        (i)    has lodged for the purposes of section 155 a statement stating
               to the effect that the company does not intend as mentioned in
               subsection 155 (4); and

        (ii)   has lodged no annual return; or

   (b)  a statement included under section 336 in the last annual return
        lodged by the company before that time states to the effect that:

        (i)    as at a particular day, trading activities were not a
               substantial part of the company's activities;

        (ii)   the company does not intend as mentioned in paragraph 336 (5)
               (b);

        (iii)  the company became dormant on a particular day that is not less
               than 3 months before that time;

        (iv)   trading activities were not a substantial part of the
               activities in which the company engaged during a particular
               period; or

        (v)    the company does not intend as mentioned in paragraph 336 (8)
               (c).

(6) Unless the contrary is proved, the Court may presume that the company is
not a banking corporation at a particular time if, as at that time:

   (a)  the company:

        (i)    has lodged for the purposes of section 155 a statement that
               does not state to the effect that the company intends as
               mentioned in subsection 155 (5); and

        (ii)   has lodged no annual return; or

   (b)  the statement included under section 336 in the last annual return
        lodged by the company before that time:

        (i)    does not state as mentioned in subsection 336 (6); or

        (ii)   states to the effect that the company does not intend as
               mentioned in paragraph 336 (7) (b).