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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.4A - WINDING UP BY THE COURT ON OTHER GROUNDS  

SECTION 462  STANDING TO APPLY FOR WINDING UP  

462(1)  [ Interpretation]  


A reference in this section to an order to wind up a company is a reference to an order to wind up the company on a ground provided for by section 461 .

462(2)  [ Who may apply]  


Subject to this section, any one or more of the following may apply for an order to wind up a company:


(a) the company; or


(b) a creditor (including a contingent or prospective creditor) of the company; or


(c) a contributory; or


(d) the liquidator of the company; or


(e) ASIC pursuant to section 464; or


(f) ASIC (in the circumstances set out in subsection (2A)); or

[ CCH Note: There is no paragraph 462(2)(g).]


(h) APRA.

462(2A)  [ When ASIC may apply]  


ASIC may apply for an order to wind up a company under paragraph (2)(f) only if:


(a) the company has no members; and


(b) ASIC has given the company at least 1 month's written notice of its intention to apply for the order.

462(3)  

(Repealed by No 105 of 2008, s 3, Sch 3, Pt 2 [ 30] (effective 18 October 2008).)

[ CCH Note : Act No 105 of 2008, s 3, Sch 3, Pt 2 [ 31] contained the following saving provision (which was effective 18 October 2008):

Saving   The amendments of sections 461 and 462 of the Corporations Act 2001 made by this Part do not apply in relation to applications made before the commencement of the amendments for orders that companies be wound up.

]

462(4)  [ When contingent or prospective creditor may apply]  


The Court must not hear an application by a person being, or persons including, a contingent or prospective creditor of a company for an order to wind up the company unless and until:


(a) such security for costs has been given as the Court thinks reasonable; and


(b) a prima facie case for winding up the company has been established to the Court's satisfaction.

462(5)  [ Entitlement to apply otherwise]  


Except as permitted by this section, a person is not entitled to apply for an order to wind up a company.

[ CCH Note: There is no section 463.]


 



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