THE CORPORATIONS LAW

CHAPTER 11 - APPLICATION AND TRANSITIONAL PROVISIONS

PART 11.2 - COMMENCEMENT AND APPLICATION OF CERTAIN CHANGES TO THIS LAW

Division 11 - Changes resulting from the Managed Investments Act 1998

SECTION 1459   OTHER ORDERS ABOUT WINDING UP  

1459(1)  [Appoint person]  

The Court may, by order, appoint a person to take responsibility for ensuring the undertaking is wound up in accordance with the deed and any orders under subsection (2) if the Court thinks it necessary to do so (including for the reason that the management company has ceased to exist or is not properly discharging its obligations in relation to the winding up).

1459(2)  [Give directions]  

The Court may, by order, give directions about how the undertaking is to be wound up if the court thinks it necessary to do so (including for the reason that the provisions in the deed are inadequate or impracticable).

1459(3)  [Who may apply]  

An order under subsection (1) or (2) may be made on the application of:

(a)  the management company or the trustee or representative; or

(b)  a director of the management company or of the trustee or representative; or

(c)  a holder of any of the prescribed interests; or

(d)  ASIC.