company ASIC may do an act on behalf of the company or its liquidator if ASIC
is satisfied that the company or liquidator would be bound to do the act if
the company still existed.
- Note: This power is a general one and is not
limited to acts in relation to property vested in ASIC under subsection
601AD(2). ASIC has all the powers that automatically flow from the vesting of
property in ASIC under that subsection (see subsection 601AD(4)) and may
exercise those powers whether or not the company was bound to do so.