Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .

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

(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

(db)    

if, immediately before the resolution was passed, the company was under restructuring - on the section 513CA day in relation to the restructuring; or

(dc)    

if, immediately before the resolution was passed, a restructuring plan had been made by the company but had not yet terminated - on the section 513CA day in relation to the restructuring that ended when the plan was made; or

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