THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

Division 11 - Variation, termination and avoidance of deed

SECTION 445E   CREDITORS MAY TERMINATE DEED AND RESOLVE THAT COMPANY BE WOUND UP  

445E    Where:

(a)  at a meeting convened under section 445F, the company's creditors pass a resolution terminating the deed; and

(b)  the notice of the meeting set out a proposed resolution that the company be wound up;

the creditors may also resolve at the meeting that the company be wound up.