Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.5 - VOLUNTARY WINDING UP  

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

Division 3 - Creditors ' voluntary winding up  

Subdivision B - Simplified liquidation process for creditors ' voluntary winding up of an insolvent company  

SECTION 500AAA  

500AAA   MEANING OF TRIGGERING EVENT  

Each of the following is a triggering event in relation to a company:

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

(b)    if section 446A applies in relation to the company because of paragraph 446A(1)(a) - the resolution referred to in that paragraph is passed;

(c)    if section 446A applies in relation to the company because of paragraph 446A(1)(b) - the company first contravenes subsection 444B(2) ;

(d)    if section 446A applies in relation to the company because of paragraph 446A(1)(c) - the resolution referred to in subparagraph 446A(1)(c)(ii) is passed;

(e)    if section 446AA applies in relation to the company because of paragraph 446AA(1)(a) - the Court makes an order under section 445D terminating a deed of company arrangement in relation to the company;

(f)    if section 446AA applies in relation to the company because of paragraph 446AA(1)(b) - the circumstances specified in the deed of company arrangement in which the deed is to terminate and the company is to be wound up first exist;

(g)    if regulations made for the purposes of section 446B have the effect that the company is taken to have passed a special resolution under section 491 that the company be wound up voluntarily - that special resolution is taken to have passed, under the regulations;

(h)    any other event prescribed by the regulations.