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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.4 - WINDING UP IN INSOLVENCY  

Division 4 - Application for order to wind up company in insolvency  

SECTION 459R  PERIOD WITHIN WHICH APPLICATION MUST BE DETERMINED  

459R(1)  [Time limit]  


An application for a company to be wound up in insolvency is to be determined within 6 months after it is made.

459R(2)  [Extension of period]  


The Court may by order extend the period within which an application must be determined, but only if:


(a) the Court is satisfied that special circumstances justify the extension; and


(b) the order is made within that period as prescribed by subsection (1), or as last extended under this subsection, as the case requires.

459R(3)  [Application automatically dismissed]  


An application is, because of this subsection, dismissed if it is not determined as required by this section.

459R(4)  [Order subject to conditions]  


An order under subsection (2) may be made subject to conditions.

 



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