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 5A - DEREGISTRATION OF COMPANIES

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Chapter 5A inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

SECTION 601AF   ASIC'S POWER TO FULFIL OUTSTANDING OBLIGATIONS OF DEREGISTERED COMPANY  

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Heading amended by No 54 of 1998, Sch 5, Pt 2 (effective 1 July 1998).

601AF     ASIC may do an act on behalf of the company or its liquidator if ASIC is satisfied that the company or liquidator would be bound to do the act if the company still existed.

Note:

This power is a general one and is not limited to acts in relation to property vested in ASIC under subsection 601AD(2). ASIC has all the powers that automatically flow from the vesting of property in ASIC under that subsection (see subsection 601AD(4)) and may exercise those powers whether or not the company was bound to do so.

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History

S 601AF amended by No 54 of 1998, Sch 5, Pt 2 (effective 1 July 1998).

S 601AF inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

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