Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 493

493. (1) The company shall, from the commencement of the winding up, cease to
carry on its business except so far as is in the opinion of the liquidator
required for the beneficial disposal or winding up of that business, but the
corporate state and corporate powers of the company, notwithstanding anything
to the contrary in its articles, continue until it is dissolved.

(2) Any transfer of shares, not being a transfer made to or with the sanction
of the liquidator, and any alteration in the status of the members, made after
the commencement of the winding up are void.