Document ID: chunk:federal_register_of_legislation:C2025C00185:section:589:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 589 (pt 1/2)
Character Range: 2084393–2086919

589  Interpretation and application
 (1) Sections 590 to 593 (inclusive) apply to a company:
 (a) that has been wound up or is in the course of being wound up; or
 (b) that has been in the course of being wound up, where the winding up has been stayed or terminated by an order under section 482; or
 (ba) of which a provisional liquidator has been appointed; or
 (c) that is or has been under administration; or
 (ca) that has executed a deed of company arrangement, even if the deed has since terminated; or
 (cb) that is or has been under restructuring; or
 (cc) that has made a restructuring plan, even if the plan has since terminated; or
 (d) affairs of which are or have been under investigation; or
 (e) in respect of property of which a receiver, or a receiver and manager, has at any time been appointed, whether by the Court or under a power contained in an instrument, whether or not the appointment has been terminated; or
 (f) that has ceased to carry on business or is unable to pay its debts; or
 (g) that has entered into a compromise or arrangement with its creditors.
 (2) For the purposes of this Part, affairs of a company are or have been under investigation if, and only if:
 (a) ASIC is investigating, or has at any time investigated, under Division 1 of Part 3 of the ASIC Act:
 (i) matters being, or connected with, affairs of the company; or
 (ii) matters including such matters; or
 (b) affairs of the company have at any time been under investigation under:
 (i) Part VII of the Companies Act 1981; or
 (ii) the provisions of a previous law of a State or Territory that correspond to that Part.
 (3) For the purposes of this Part, a company is taken to have ceased to carry on business only if:
 (a) ASIC has published in the prescribed manner a notice of the proposed deregistration of the company under subsection 601AA(4) or 601AB(3); and
 (b) if the notice was published under subsection 601AA(4) or under subsection 601AB(3) because of a decision under subsection 601AB(1)—2 months have passed since the notice was published and ASIC has not been informed that the company is carrying on business.
 (4) For the purposes of this Part, a company is taken to be unable to pay its debts if, and only if, execution or other process issued on a judgment, decree or order of a court (whether or not an Australian court) in favour of a creditor of the company is returned unsatisfied in whole or in part.

Meaning of appropriate officer and property
 (5) In this Part:
appropriate officer means:
 (a)