Document ID: chunk:federal_register_of_legislation:C2025C00185:section:482:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 482 (pt 1/2)
Character Range: 1763196–1765857

482  Power to stay or terminate winding up
 (1) At any time during the winding up of a company, the Court may, on application, make an order staying the winding up either indefinitely or for a limited time or terminating the winding up on a day specified in the order.
 (1A) An application may be made by:
 (a) in any case—the liquidator, or a creditor or contributory, of the company; or
 (b) in the case of a company registered under section 21 of the Life Insurance Act 1995—APRA; or
 (c) in the case of a company subject to a deed of company arrangement—the administrator of the deed; or
 (d) in the case of a company subject to a restructuring plan—the restructuring practitioner for the plan.
 (2) On such an application, the Court may, before making an order, direct the liquidator to give a report with respect to a relevant fact or matter.
 (2A) If such an application is made in relation to a company subject to a deed of company arrangement, then, in determining the application, the Court must have regard to all of the following matters:
 (a) any report that has been given to the Court by:
 (i) the administrator, or a former administrator, of the company; or
 (ii) the liquidator, or a former liquidator, of the company; or
 (iii) ASIC;
  and that contains an allegation that an officer of the company has engaged in misconduct;
 (b) any report that has been lodged with ASIC by:
 (i) the administrator, or a former administrator, of the company; or
 (ii) the liquidator, or a former liquidator, of the company;
  and that contains an allegation that an officer of the company has engaged in misconduct;
 (c) the decision of the company's creditors to resolve that the company execute a deed of company arrangement;
 (d) any document that accompanied a notice of the meeting under section 439A when the company was under administration;
 (da) any notice that has been given to the administrator of the deed of company arrangement or the company's creditors under section 445HA (notification of contravention of deed of company arrangement);
 (e) whether the deed of company arrangement is likely to result in the company becoming or remaining insolvent;
 (f) any other relevant matters.
 (2B) If such an application is made in relation to a company subject to a restructuring plan, then, in determining the application, the Court must have regard to all of the following matters:
 (a) any report that has been given to the Court by:
 (i) the restructuring practitioner, or a former restructuring practitioner, for the company; or
 (ii) the liquidator, or a former liquidator, of the company; or
 (iii) ASIC;
  and that contains an allegation that