Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 486B
Warrant to arrest person who is absconding, or who has dealt with property or books, in order to avoid obligations in connection with winding up
- (1)
- The Court may issue a warrant for a person to
be arrested and brought before the Court if:
- (a)
- a company is being wound up in insolvency or
by the Court, or an application has been made for a company to be so wound up;
and
- (b)
- the Court is satisfied that the person:
- (i)
- is
about to leave Australia in order to avoid:
(A) paying money payable to the company; or
(B) being examined about the company's affairs; or
(C) complying with an order of the Court, or some other
obligation, under this Chapter in connection with the
winding up; or
- (ii)
- has concealed or removed property
of the company in order to prevent or delay the taking of
the property into the liquidator's custody or control;
or
- (iii)
- has destroyed, concealed or removed books of the company or is
about to do so.
- (2)
- A warrant under subsection (1) may
also provide for property or books of the company in the person's possession
to be seized and delivered into the custody of a specified person.
- (3)
- A warrant under subsection (1) may only be issued on the
application of:
- (a)
- a
liquidator or provisional liquidator of the company; or
- (b)
- the Commission.
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