Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 490

When company cannot wind up voluntarily

Except with the leave of the Court, a company cannot resolve that it be wound up voluntarily if:

(a)
an application for the company to be wound up in insolvency has been filed; or

(b)
the Court has ordered that the company be wound up in insolvency, whether or not the order was made on such an application.



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