Document ID: chunk:federal_register_of_legislation:C2025C00185:section:459s
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 459S
Character Range: 1724690–1725359

459S  Company may not oppose application on certain grounds
 (1) In so far as an application for a company to be wound up in insolvency relies on a failure by the company to comply with a statutory demand, the company may not, without the leave of the Court, oppose the application on a ground:
 (a) that the company relied on for the purposes of an application by it for the demand to be set aside; or
 (b) that the company could have so relied on, but did not so rely on (whether it made such an application or not).
 (2) The Court is not to grant leave under subsection (1) unless it is satisfied that the ground is material to proving that the company is solvent.