Commonwealth Numbered Acts

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 62

62. Section 465 of the Corporations Law is repealed and the following headings
and sections are substituted:

"PART 5.4B - WINDING UP IN INSOLVENCY OR BY THE COURT

"Division 1 - General Notice of application

"465A. A person who applies under section 459P, 462 or 464 for a company to be
wound up must:

   (a)  lodge notice in the prescribed form that the application has been
        made; and

   (b)  within 14 days after the application is made, serve a copy of it on
        the company; and

   (c)  advertise the application as prescribed by the rules. Substitution of
        applicants

"465B.(1) The Court may by order substitute, as applicant or applicants in an
application under section 459P, 462 or 464 for a company to be wound up, a
person or persons who might otherwise have so applied for the company to be
wound up.

"(2) The Court may only make an order if the Court thinks it appropriate to do
so:

   (a)  because the application is not being proceeded with diligently enough;
        or

   (b)  for some other reason.

"(3) The substituted applicant may be, or the substituted applicants may be or
include, the person who was the applicant, or any of the persons who were the
applicants, before the substitution.

"(4) After an order is made, the application may proceed as if the substituted
applicant or applicants had been the original applicant or applicants.
Applicant to be given notice of grounds for opposing application

"465C. On the hearing of an application under section 459P, 462 or 464, a
person may not, without the leave of the Court, oppose the application unless,
within the period prescribed by the rules, the person has filed, and served on
the applicant:

   (a)  notice of the grounds on which the person opposes the application; and

   (b)  an affidavit verifying the matters stated in the notice.".