THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.4 - WINDING UP IN INSOLVENCY

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Heading substituted by No 210 of 1992, s 57 (effective 23 June 1993).

CCH Note: See s 1382-1383.

Division 4 - Application for order to wind up company in insolvency

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Heading inserted by No 210 of 1992, s 57 (effective 23 June 1993).

CCH Note: See s 1382-1383.

SECTION 459R   PERIOD WITHIN WHICH APPLICATION MUST BE DETERMINED  

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459R(1)  [6 months]  

An application for a company to be wound up in insolvency is to be determined within 6 months after it is made.

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S 459R(1) inserted by No 210 of 1992, s 57 (effective 23 June 1993).

CCH Note: see s 1382-1383.

459R(2)  [Extension of period]  

The Court may by order extend the period within which an application must be determined, but only if:

(a)  the Court is satisfied that special circumstances justify the extension; and

(b)  the order is made within that period as prescribed by subsection (1), or as last extended under this subsection, as the case requires.

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S 459R(2) inserted by No 210 of 1992, s 57 (effective 23 June 1993).

CCH Note: see s 1382-1383.

459R(3)  [Application automatically dismissed]  

An application is, because of this subsection, dismissed if it is not determined as required by this section.

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S 459R(3) inserted by No 210 of 1992, s 57 (effective 23 June 1993).

CCH Note: see s 1382-1383.

459R(4)  [Order subject to conditions]  

An order under subsection (2) may be made subject to conditions.

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History

S 459R(4) inserted by No 210 of 1992, s 57 (effective 23 June 1993).

CCH Note: see s 1382-1383.

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