A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 1A - When winding up taken to begin  

SECTION 513B  

513B  VOLUNTARY WINDING UP  

Where a company resolves by special resolution that it be wound up voluntarily, the winding up is taken to have begun or commenced:


(a) if, when the resolution was passed, a winding up of the company was already in progress - when the last-mentioned winding up is taken because of this Division to have begun or commenced; or


(b) if, immediately before the resolution was passed, the company was under administration - on the section 513C day in relation to the administration; or


(c) if, immediately before the resolution was passed, a deed of company arrangement had been executed by the company but had not yet terminated - on the section 513C day in relation to the administration that ended when the deed was executed; or


(d) if the resolution is taken to have been passed because the company's creditors:


(i) passed a resolution terminating a deed of company arrangement executed by the company; and

(ii) also resolved under section 445E that the company be wound up;
on the section 513C day in relation to the administration that ended when the deed was executed; or

[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[171] apply in relation to external administrations on and after 1 September 2017.]


(da) if the resolution is taken to have been passed under section 446AA because of:


(i) the making of an order under section 445D by the Court terminating a deed of company arrangement executed by the company; or

(ii) the existence of circumstances that are specified in a deed of company arrangement executed by the company to be circumstances in which the deed is to terminate and the company is to be wound up;
on the section 513C day in relation to the administration that ended when the deed was executed; or


(e) otherwise - on the day on which the resolution was passed.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page