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 5.4B - WINDING UP IN INSOLVENCY OR BY THE COURT

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Division 3 - General powers of Court

SECTION 486B WARRANT TO ARREST PERSON WHO IS ABSCONDING, OR WHO HAS DEALT WITH PROPERTY OR BOOKS, IN ORDER TO AVOID OBLIGATIONS IN CONNECTION WITH WINDING UP

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486B(1) [Warrant for arrest]

The Court may issue a warrant for a person to be arrested and brought before the Court if:

(a) a company is being wound up in insolvency or by the Court, or an application has been made for a company to be so wound up; and

(b) the Court is satisfied that the person:

(i) is about to leave Australia in order to avoid:
(A) paying money payable to the company; or

(B) being examined about the company's affairs; or

(C) complying with an order of the Court, or some other obligation, under this Chapter in connection with the winding up; or

(ii) has concealed or removed property of the company in order to prevent or delay the taking of the property into the liquidator's custody or control; or

(iii) has destroyed, concealed or removed books of the company or is about to do so.

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486B(2) [Seizure of property and books]

A warrant under subsection (1) may also provide for property or books of the company in the person's possession to be seized and delivered into the custody of a specified person.

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486B(3) [Applicants for warrant]

A warrant under subsection (1) may only be issued on the application of:

(a) a liquidator or provisional liquidator of the company; or

(b) the Commission.

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