Commonwealth Consolidated Acts

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Who may apply for order under section 459A

             (1)  Any one or more of the following may apply to the Court for a company to be wound up in insolvency:

                     (a)  the company;

                     (b)  a creditor (even if the creditor is a secured creditor or is only a contingent or prospective creditor);

                     (c)  a contributory;

                     (d)  a director;

                     (e)  a liquidator or provisional liquidator of the company;

                      (f)  ASIC;

                     (g)  a prescribed agency.

             (2)  An application by any of the following, or by persons including any of the following, may only be made with the leave of the Court:

                     (a)  a person who is a creditor only because of a contingent or prospective debt;

                     (b)  a contributory;

                     (c)  a director;

                     (d)  ASIC.

             (3)  The Court may give leave if satisfied that there is a prima facie case that the company is insolvent, but not otherwise.

             (4)  The Court may give leave subject to conditions.

             (5)  Except as permitted by this section, a person cannot apply for a company to be wound up in insolvency.

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