Corporations Amendment (Insolvency) Act 2007 (132 of 2007)

Schedule 4   Fine-tuning voluntary administration

Part 3   Liquidation following administration

Corporations Act 2001

65   After paragraph 556(1)(b)

Insert:

(ba) if:

(i) during the period of 12 months ending when the winding up commenced, an application (the first application ) was made under section 459P for the company to be wound up in insolvency; and

(ii) when the first application was made, the company was not under administration; and

(iii) the company began to be under administration at a time after the first application was made; and

(iv) the first application was not withdrawn or dismissed before the administration began; and

(v) the Court did not, in response to the first application, make an order under section 459A that the company be wound up in insolvency;

next, the costs in respect of the first application;