Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
This section applies if:
(a) the creditors of a company under administration resolve at a particular time under paragraph 439C(c) that the company be wound up; or
(b) a company under administration contravenes subsection 444B(2) at a particular time; or
(c) the company ' s creditors:
(i) pass a resolution terminating a deed of company arrangement executed by the company; and
(ii) also resolve at a particular time under section 445E that the company be wound up.
[ CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2[125] apply in relation to external administrations on and after 1 September 2017.]
446A(2)
The company is taken:
(a) to have passed, at the time referred to in paragraph (1)(a) or (b) or subparagraph (1)(c)(ii), as the case may be, a special resolution under section 491 that the company be wound up voluntarily; and
(b) to have done so without a declaration having been made and lodged under section 494 .
446A(3)
Section 497 is taken to have been complied with in relation to the winding up.
446A(4)
(Repealed by No 132 of 2007, s 3, Sch 1, Pt 2 [ 22].)
446A(5)
The liquidator must:
(a) within 5 business days after the day on which the company is taken to have passed the resolution, lodge a written notice stating that the company is taken because of this section to have passed such a resolution and specifying that day; and
(b) cause the notice to be published, within the period ascertained in accordance with the regulations, in the prescribed manner.
[ CCH Note: S 446A(5) will be amended by No 141 of 2020, s 3, Sch 4[117], by inserting " with the Registrar " after " lodge " , (effective on the later of: (a) 18 December 2020; and (b) the day items 1 to 1258 of Schedule 1 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 commence.).]
446A(6)
Section 482 applies in relation to the winding up as if it were a winding up in insolvency or by the Court.
Note: Section 482 empowers the Court to stay or terminate a winding up and give consequential directions.
446A(7)
An application under section 482 as applying because of subsection (6) may be made:
(a) despite section 198G (exercise of powers while company under external administration), by the company pursuant to a resolution of the board; or
[ CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2[126] apply in relation to external administrations on and after 1 September 2017.]
(b) by the liquidator; or
(c) by a creditor; or
(d) by a contributory.
Note: See also section 499 (appointment of liquidator).
[ CCH Note: S 446A(8) will be inserted by No 141 of 2020, s 3, Sch 4[118] (effective on the later of: (a) 18 December 2020; and (b) the day items 1 to 1258 of Schedule 1 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 commence.). S 446A(8) will read:
446A(8)
A lodgement under paragraph (5)(a) must meet any requirements of the data standards.]
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