Corporations (Aboriginal and Torres Strait Islander) Act 2006
Subject to subsection (5) , an Aboriginal and Torres Strait Islander corporation may be wound up voluntarily if the members of the corporation in general meeting so resolve by special resolution.
526-20(2)
An Aboriginal and Torres Strait Islander corporation cannot resolve that it be wound up voluntarily if: (a) the corporation is under special administration under Part 11-2 ; or (b) the Registrar:
(i) has given the corporation a notice under subsection 487-10(1) ; and
(ii) has not given the corporation a notice under subsection 487-10(5) .
526-20(3)
Paragraph (2)(b) does not apply if the Registrar has consented in writing to the voluntary winding up of the corporation.
526-20(4)
A consent given by the Registrar under subsection (3) is not a legislative instrument
526-20(5)
Except with the leave of the Court, an Aboriginal and Torres Strait Islander corporation cannot resolve that it be wound up voluntarily if: (a) an application has been made to the Court for the corporation to be wound up on the ground that it is insolvent; or (b) the Court has ordered that the corporation be wound up on the ground that it is insolvent (whether or not the order was made on such an application).
526-20(6)
If an Aboriginal and Torres Strait Islander corporation passes a resolution for the voluntary winding up of the corporation, the corporation must, within 28 days after the passing of a resolution, lodge with the Registrar: (a) a notice in the approved form of the passing of the resolution; and (b) a copy of the resolution.
Penalty: 5 penalty units.
526-20(7)
Subsection (6) is an offence of strict liability.
Note:
For strict liability , see section 6.1 of the Criminal Code .
526-20(8)
The Registrar must, within 21 days after the lodging of a notice under subsection (6) , publish in the Gazette a notice of the passing of the resolution to which the notice relates.
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