Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 563

563. (1) Notwithstanding anything in section 556, paragraph 556 (1) (f) does
not apply in relation to the winding up of a company in any case where:

   (a)  the company is being wound up voluntarily merely for the purpose of
        reconstruction or of amalgamation with another company and the right
        to the injury compensation has, on the reconstruction or amalgamation,
        been preserved to the person entitled to it; or

   (b)  the company has entered into a contract with an insurer in respect of
        any liability for injury compensation.

(2) Where injury compensation is payable by way of periodical payments, the
amount of that compensation shall, for the purposes of paragraph 556 (1) (f),
be taken to be the lump sum for which those periodical payments could, if
redeemable, be redeemed under the law under which the periodical payments are
made.