Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.4C - WINDING UP BY ASIC  

Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 5 of Part 8B.6 .

SECTION 489EB  

489EB   DEEMED RESOLUTION THAT COMPANY BE WOUND UP VOLUNTARILY  

If ASIC orders under section 489EA that a company be wound up:

(a) the company is taken to have passed a special resolution under section 491 that the company be wound up voluntarily; and

(b) the company is taken to have passed the special resolution:

(i) at the time when ASIC made the order under section 489EA ; and

(ii) without a declaration having been made and lodged under section 494 ; and

(c) section 496 has effect as if:

(i) a declaration had been made under section 494 ; and

(ii) the reference in subsection 496(1) to the period stated in the declaration were a reference to the 12-month period beginning when ASIC made the order under section 489EA ; and

(d) section 497 is taken to have been complied with in relation to the winding up.