Commonwealth Numbered Acts

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 79

79. Section 490 of the Corporations Law is repealed and the following section
is substituted: When company cannot wind up voluntarily

"490. Except with the leave of the Court, a company cannot resolve that it be
wound up voluntarily if:

   (a)  an application for the company to be wound up in insolvency has been
        filed; or

   (b)  the Court has ordered that the company be wound up in insolvency,
        whether or not the order was made on such an application.".