Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 233

Orders the Court can make

 
 
(1)
The Court can make any order under this section
that it considers appropriate in relation to the company, including an order:
 
 
 
(a)
that the company be
wound up

(b)
that the company's existing constitution be modified or
repealed

(c)
regulating the conduct of the company's affairs in the
future

(d)
for the purchase of any shares by any member or person to whom a
share in the company has been transmitted by will or by operation of
law

(e)
for the purchase of shares with an appropriate reduction of the
company's share capital

(f)
for the company to institute, prosecute, defend or discontinue
specified proceedings

(g)
authorising a member, or a person to whom a share in the company
has been transmitted by will or by operation of law, to institute, prosecute,
defend or discontinue specified proceedings in the name and on behalf of the
company

(h)
appointing a receiver or a receiver and manager of any or all of
the company's property

(i)
restraining a person from engaging in specified conduct or from
doing a specified act

(j)
requiring a person to do a specified act. 

 
Order that the company be wound up
 

(2)
If an order that a company be wound up is made under this
section, the provisions of this Law relating to the winding up of companies
apply: 
 
 
 
(a)
as if the
order were made under section 461; and

(b)
with such changes as are necessary. 

 
Order altering constitution
 
 
(3)
If
an order made under this section repeals or modifies a company's constitution,
or requires the company to adopt a constitution, the company does not have the
power under section 136 to change or repeal the constitution if that change or
repeal would be inconsistent with the provisions of the order, unless: 

 
 
(a)
the order states that the
company does have the power to make such a change or repeal; or

(b)
the company first obtains the leave of the Court.