Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1291

(1)

The Commission may, at any time, cancel, or suspend for a specified period, the registration as an official liquidator of a person who is so registered.

(2)

The Commission may, at any time, require a person registered as an official liquidator to give an undertaking to refrain from engaging in specified conduct except on specified conditions.

(3)

Where the Commission decides to exercise a power under subsection (1) or (2), the Commission shall, not later than 14 days after the decision, give to the person a notice in writing setting out the decision and the reasons for it, but the validity of the decision is not affected by failure of the Commission to do so.

(4)

A decision of the Commission under subsection (1) to cancel or suspend the registration of a person as an official liquidator comes into effect at the end of the day on which there is given to the person a notice of the decision, being a notice of the kind referred to in subsection (3).