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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.5 - VOLUNTARY WINDING UP    View history reference

Division 2 - Members' voluntary winding up  

SECTION 495  APPOINTMENT OF LIQUIDATOR ETC.  

 View history reference

495(1)  

The company in general meeting must appoint a liquidator or liquidators for the purpose of winding up the affairs and distributing the property of the company.

Note: For rules about the liquidator ' s remuneration, see Division 60 of Part 3 of Schedule 2 . For rules about convening meetings, see Division 75 of Part 3 of Schedule 2 .

495(2)  

If a vacancy occurs in the office of a liquidator (whether by death, resignation or otherwise), the company in general meeting may fill the vacancy by the appointment of a liquidator.

495(3)  

A general meeting may be convened for the purposes of subsection (2) by any contributory or, if there were 2 or more liquidators, by the continuing liquidators.

495(4)  

The meeting must be held in the manner provided by this Act or by the company ' s constitution or in such manner as is, on application by any contributory or by the continuing liquidators, determined by the Court.

[ CCH Note: Regulation 10.25.02(3)(h) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2[158] apply in relation to external administrations on and after 1 September 2017.]


 



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