Document ID: chunk:federal_register_of_legislation:C2010C00237:clause:3_97
Version: federal_register_of_legislation:C2010C00237
Segment Type: clause
Provision Reference: sch 3 cl 97
Character Range: 102846–103835

97  Voluntary winding up commenced under old Act

(1) This item applies if, before commencement:
 (a) a transitional corporation had resolved by special resolution that the transitional corporation be wound up voluntarily; and
 (b) the winding up of the transitional corporation had commenced but had not been completed.

(2) The winding up may be continued and completed under the new Act as if it were a voluntary winding up under the new Act.

(3) Without limiting subitem (2), a liquidator appointed before commencement to carry out the winding up of the transitional corporation is taken, after commencement, to have been appointed to carry out the winding up of the transitional corporation under the new Act.

(4) Without limiting paragraph 526‑35(2)(b) of the new Act, regulations made under the new Act for the purposes of that paragraph may modify the operation of the Corporations Act winding up provisions in relation to a transitional corporation to which this item applies.