Governance Review Implementation (Treasury Portfolio Agencies) Act 2007 (74 of 2007)
Schedule 1 Amendments
Part 1 ASIC
Corporations Act 2001
19 After subsection 601AD(1)
Insert:
Trust property vests in the Commonwealth
(1A) On deregistration, all property that the company held on trust immediately before deregistration vests in the Commonwealth. If property is vested in a liquidator on trust immediately before deregistration, that property vests in the Commonwealth. This subsection extends to property situated outside this jurisdiction.
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