Document ID: chunk:federal_register_of_legislation:C2025C00185:section:459p
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 459P
Character Range: 1722060–1723218

459P  Who may apply for order under section 459A
 (1) Any one or more of the following may apply to the Court for a company to be wound up in insolvency:
 (a) the company;
 (b) a creditor (even if the creditor is a secured creditor or is only a contingent or prospective creditor);
 (c) a contributory;
 (d) a director;
 (e) a liquidator or provisional liquidator of the company;
 (f) ASIC;
 (g) a prescribed agency.
Note: The Reserve Bank may also apply under this section to the Court for an order if a condition in section 831A is satisfied in relation to a CS facility licensee: see section 849AA.
 (2) An application by any of the following, or by persons including any of the following, may only be made with the leave of the Court:
 (a) a person who is a creditor only because of a contingent or prospective debt;
 (b) a contributory;
 (c) a director;
 (d) ASIC.
 (3) The Court may give leave if satisfied that there is a prima facie case that the company is insolvent, but not otherwise.
 (4) The Court may give leave subject to conditions.
 (5) Except as permitted by this section, a person cannot apply for a company to be wound up in insolvency.