Western Australian Current Acts Western Australian Current Acts (1) A reference to
being wound up is —
(a) in
the case of a corporation — to it being wound up in accordance with its
constitution (so far as it has a constitution that deals with its winding up)
and in accordance with any law for the time being applicable; and
(b) in
the case of a unit trust scheme — to it being terminated in accordance
with the provisions of the trust deed or any other document constituting the
scheme and in accordance with any law for the time being applicable.
(2) A winding up
begins —
(a) in
the case of a corporation — when the winding up is taken to begin under
the Corporations Act; and
(b) in
the case of a unit trust scheme —
(i)
when any circumstance or event occurs, or any time
arrives, that, because of the trust deed or other document constituting the
scheme, requires the scheme to be wound up; or
(ii)
when the holders of units issued under the scheme pass a
resolution directing the trustee to wind up the scheme; or
(iii)
when the trustee decides to wind up the scheme; or
(iv)
when a court orders that the scheme be wound up,
whichever happens
first.
[ 8A., 8B. 1M Modification, to insert sections 8A and 8B, to have effect under
the Commonwealth Places (Mirror Taxes Administration) Act 1999 s. 7, see
Commonwealth Places (Mirror Taxes Administration) Regulations 2007 r. 8 and
endnote 1M.]
[ 8A., 8B. 1MC Modification, to insert sections 8A and 8B to have effect under
the Commonwealth Places (Mirror Taxes) Act 1998 (Commonwealth) s. 8, see
Commonwealth Places (Mirror Taxes) (Modification of Applied Laws (WA)) Notice
2007 cl. 9 and endnote 1MC.]