Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 3   Other amendments

Part 5   Relation-back day

Corporations Act 2001

18   After section 90

Insert:

91 Relation-back day

For the purposes of this Act, the following table sets out the meaning of relation-back day in relation to a winding up of a company or Part 5.7 body.

Relation-back day

Item

If:

the relation-back day is:

1

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, the company was under administration; and

(c) the order was made in response to an application filed at or after the beginning of the administration;

the section 513C day in relation to the administration.

2

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, the company was under administration; and

(c) the order was made in response to an application filed before the beginning of the administration;

the day on which that application was filed.

3

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, a deed of company arrangement had been executed by the company and had not yet terminated; and

(c) the order was made in response to an application filed at or after the beginning of the administration that ended when the deed was executed;

the section 513C day in relation to that administration.

4

in the case of a company:

(a) the Court orders under section 233, 459A, 459B or 461 that the company be wound up; and

(b) immediately before the order was made, a deed of company arrangement had been executed by the company and had not yet terminated; and

(c) the order was made in response to an application filed before the beginning of the administration that ended when the deed was executed;

the day on which that application was filed.

5

in the case of a company:

(a) the company resolves by special resolution that it be wound up voluntarily; and

(b) immediately before the resolution was passed, the company was under administration; and

(c) no application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration;

the section 513C day in relation to the administration.

6

in the case of a company:

(a) the company resolves by special resolution that it be wound up voluntarily; and

(b) immediately before the resolution was passed, the company was under administration; and

(c) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration, but that application was dismissed or withdrawn before the administration commenced;

the section 513C day in relation to the administration.

7

in the case of a company:

(a) the company resolves by special resolution that it be wound up voluntarily; and

(b) immediately before the resolution was passed, the company was under administration; and

(c) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration; and

(d) that application had not been dismissed or withdrawn before the administration commenced;

the day on which that application was filed.

8

in the case of a company, the company is taken to have passed a special resolution that it be wound up voluntarily because, at a meeting convened by the administrator of a deed of company arrangement executed by the company, the company's creditors:

(a) passed a resolution terminating the deed of company arrangement; and

(b) also resolved under section 445E that the company be wound up;

and either:

(c) no application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed; or

(d) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed, but that application was dismissed or withdrawn before the administration commenced;

the section 513C day in relation to the administration that ended when the deed was executed.

9

in the case of a company, the company is taken to have passed a special resolution that it be wound up voluntarily because, at a meeting convened by the administrator of a deed of company arrangement executed by the company, the company's creditors:

(a) passed a resolution terminating the deed of company arrangement; and

(b) also resolved under section 445E that the company be wound up;

and both:

(c) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed; and

(d) that application has not been dismissed or withdrawn before the first-mentioned resolution is taken to have been passed;

the day on which that application was filed.

10

in the case of a company, the company is taken to have passed a special resolution that it be wound up voluntarily because the Court made an order under section 445D terminating a deed of company arrangement executed by the company, and either:

(a) no application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed; or

(b) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed, but that application was dismissed or withdrawn before the administration commenced;

the section 513C day in relation to the administration that ended when the deed was executed.

11

in the case of a company:

(a) the company is taken to have passed a special resolution that it be wound up voluntarily because the Court made an order under section 445D terminating a deed of company arrangement executed by the company; and

(b) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed; and

(c) that application has not been dismissed or withdrawn before the resolution is taken to have been passed;

the day on which that application was filed.

12

in the case of a company, the company is taken to have passed a special resolution that it be wound up voluntarily because:

(a) a deed of company arrangement executed by the company specifies particular circumstances in which the deed is to terminate and the company is to be wound up; and

(b) those circumstances exist at a particular time;

and either:

(c) no application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed; or

(d) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed, but that application was dismissed or withdrawn before the administration commenced;

the section 513C day in relation to the administration that ended when the deed was executed.

13

in the case of a company, the company is taken to have passed a special resolution that it be wound up voluntarily because:

(a) a deed of company arrangement executed by the company specifies particular circumstances in which the deed is to terminate and the company is to be wound up; and

(b) those circumstances exist at a particular time;

and both:

(c) an application for an order under section 233, 459A, 459B or 461 that the company be wound up was filed before the beginning of the administration that ended when the deed was executed; and

(d) that application had not been dismissed or withdrawn before the resolution is taken to have been passed;

the day on which that application was filed.

14

because of Division 1A of Part 5.6, the winding up is taken to have begun on the day when an order that the company or body be wound up was made;

the day on which the application for the order was filed.

15

any other case applies;

the day on which the winding up is taken, because of Division 1A of Part 5.6, to have begun.


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