Document ID: chunk:federal_register_of_legislation:C2011A00024:clause:1_17
Version: federal_register_of_legislation:C2011A00024
Segment Type: clause
Provision Reference: sch 1 cl 17
Character Range: 9607–10297

17  Subsection 601WBA(1)
Repeal the subsection, substitute:
 (1) ASIC may, in writing, make a determination (a transfer determination) that there is to be a transfer of estate assets and liabilities from a specified company (the transferring company) to another specified company (the receiving company) if:
 (a) ASIC has cancelled the licence of the transferring company (the determination is a compulsory transfer determination); or
 (b) the transferring company has applied in the prescribed form for a determination (the determination is a voluntary transfer determination).
Note: The heading to section 601WBA is altered by omitting "Compulsory transfer" and substituting "Transfer".