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CORPORATIONS ACT 2001 - SECT 601CC

Cessation of business etc.

             (1)  Within 7 days after ceasing to carry on business interstate, a registered Australian body must lodge with the Registrar written notice that it has so ceased.

          (1A)  For the purposes of this section, a body carries on business interstate if, and only if, the body carries on business at a place that is in this jurisdiction and outside the body's place of origin.

             (2)  If the Registrar has reasonable cause to believe that a registered Australian body does not carry on business interstate, the Registrar may give the body a notice that:

                     (a)  is to that effect; and

                     (b)  informs the body that, if no response showing cause to the contrary is received within 1 month from the date of the notice, the Registrar will publish notice with a view to cancelling the body's registration.

             (3)  Unless the Registrar receives, within 1 month after the date of the notice, a response to the effect that the body is still carrying on business interstate, the Registrar may:

                     (a)  give the body a notice informing the body that, at the end of 3 months after the date of the notice, the body's registration will, unless cause to the contrary is shown, be cancelled; and

                     (b)  publish the notice.

             (4)  At the end of the period specified in a notice given under subsection (3), the Registrar:

                     (a)  may, unless cause to the contrary has been shown, cancel the body's registration; and

                     (b)  if the registration is cancelled--must publish notice of the cancellation.

          (4A)  A response by the body showing cause to the contrary for the purposes of paragraph (2)(b) or (3)(a) must meet any requirements of the data standards.

          (4B)  However, if ASIC notifies the Registrar of its objection to the cancellation, cause to the contrary is taken to have been shown for the purposes of those paragraphs.

             (5)  Nothing in subsection (4) affects the power of the Court to wind up a body whose registration has been cancelled under this section.

             (7)  If the Registrar is satisfied that a body's registration was cancelled as a result of an error on the Registrar's part, the Registrar may reinstate the body's registration. On reinstatement, the body is taken never to have ceased to be registered under this Division.

             (8)  A person who is aggrieved by the cancellation of a body's registration may, within 15 years after the cancellation, apply to the Court for the registration to be reinstated.

             (9)  If, on an application under subsection (8), the Court is satisfied that:

                     (a)  at the time of the cancellation, the body was carrying on business interstate; or

                     (b)  it is otherwise just for the body's registration to be reinstated;

the Court may, by order:

                     (c)  direct the body's registration to be reinstated; and

                     (d)  give such directions, and make such provisions, as it thinks just for placing the body and all other persons in the same position, as nearly as practicable, as if the body's registration had never been cancelled.

           (10)  On the lodging of an office copy of an order under subsection (9), the body's registration is taken never to have been cancelled. The lodgement must meet any requirements of the data standards.

           (11)  If a body's registration is reinstated under this section, the Registrar must publish notice of that fact.

           (12)  Where a body ceases to be registered under this Division, an obligation to lodge a document with ASIC or the Registrar that this Act imposes on the body by virtue of the doing of an act or thing, or the occurrence of an event, at or before the time when the body so ceased, being an obligation not discharged at or before that time, continues to apply in relation to the body even if the period prescribed for lodging the document has not ended at or before that time.

           (13)  Where a registered Australian body commences to be wound up, or is dissolved or deregistered, in its place of origin, the Court must, on application by the person who is the liquidator for the body's place of origin, or by ASIC, appoint a liquidator of the body.

           (14)  A liquidator of a registered Australian body who is appointed by the Court:

                     (a)  must, before any distribution of the body's property is made, by advertisement in a daily newspaper circulating generally in each State or Territory where the body carried on business at any time during the 6 years before the liquidation, invite all creditors to make their claims against the body within a reasonable time before the distribution; and

                     (b)  must not, without obtaining an order of the Court, pay out a creditor of the body to the exclusion of another creditor of the body; and

                     (c)  must, unless the Court otherwise orders, recover and realise the property of the body that is located:

                              (i)  in this jurisdiction; and

                             (ii)  outside the body's place of origin;

                            and must pay the net amount so recovered and realised to the liquidator of the body for its place of origin.

           (15)  If a registered Australian body has been wound up so far as its property located:

                     (a)  in this jurisdiction; and

                     (b)  outside its place of origin;

is concerned and there is no liquidator for its place of origin, the liquidator may apply to the Court for directions about the disposal of the net amount recovered under subsection (14).



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