Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 440A

Winding up company

             (1)  A company under administration cannot be wound up voluntarily, except as provided by section 446A or 446AA.

             (2)  The Court is to adjourn the hearing of an application for an order to wind up a company if the company is under administration and the Court is satisfied that it is in the interests of the company's creditors for the company to continue under administration rather than be wound up.

             (3)  The Court is not to appoint a provisional liquidator of a company if the company is under administration and the Court is satisfied that it is in the interests of the company's creditors for the company to continue under administration rather than have a provisional liquidator appointed.



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