Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 482
Power to stay or terminate winding up
- (1)
- At any time during the winding up of a company,
the Court may, on application, make an order staying the winding up either
indefinitely or for a limited time or terminating the winding up on a day
specified in the order.
- (1A)
- An application may be made by:
- (a)
- in any casethe liquidator, or a
creditor or contributory, of the company; or
- (b)
- in the case of a company registered under the Life Insurance
Act 1995APRA.
- (2)
- On such an application, the Court may,
before making an order, direct the liquidator to furnish a report with respect
to a relevant fact or matter.
- (3)
- Where the Court has made an order terminating the winding up, the
Court may give such directions as it thinks fit for the resumption of the
management and control of the company by its officers, including directions
for the convening of a general meeting of members of the company to elect
directors of the company to take office upon the termination of the winding
up.
- (4)
- The costs of proceedings before the Court under this section and
the costs incurred in convening a meeting of members of the company in
accordance with an order of the Court under this section shall, if the Court
so directs, form part of the costs, charges and expenses of the winding
up.
- (5)
- Where an order is made under this section, the company shall
lodge an office copy of the order within 14 days after the making of the
order.
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