Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 490
When company cannot wind up voluntarily
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.
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