Corporations (Aboriginal and Torres Strait Islander) Act 2006
If the Registrar determines under subsection 487-1(1) in relation to an Aboriginal and Torres Strait Islander corporation, the corporation: (a) starts being under special administration when the period specified in the determination under subsection 487-1(1) starts; and (b) ceases being under special administration :
(i) when the period specified in the determination under subsection 487-1(1) , or that period as extended under section 487-15 , ends; or
(ii) if, before the end of the period referred to in subparagraph (i), a liquidator for the corporation is appointed, or the winding up of the corporation starts, as a result of an application made by the Registrar or the special administrator - when the liquidator is appointed or the winding up starts; or
(iii) if, before the end of the period referred to in subparagraph (i), the Registrar makes a determination under section 487-20 - on the date specified in the determination under section 487-20 .
Note:
Subparagraph (b)(ii) - once the corporation is under special administration only the Registrar or the special administrator can apply for the winding up of the corporation (see subsection 526-15(3) ).
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