Document ID: chunk:federal_register_of_legislation:C2010C00237:clause:3_96
Version: federal_register_of_legislation:C2010C00237
Segment Type: clause
Provision Reference: sch 3 cl 96
Character Range: 101873–102846

96  Court winding up commenced under old Act

(1) This item applies if, before commencement:
 (a) the Court had ordered under section 63 of the old Act that a transitional corporation be wound up; and
 (b) the winding up had not been completed.

(2) The winding up may be continued and completed under the new Act as if the Court had made an order under section 526‑1 of the new Act that the transitional corporation be wound up.

(3) Without limiting subitem (2), a liquidator appointed before commencement to carry out the winding up of the transitional corporation is taken, after commencement, to have been appointed to carry out the winding up of the transitional corporation under the new Act.

(4) Without limiting paragraph 526‑35(2)(b) of the new Act, regulations made under the new Act for the purposes of that paragraph may modify the operation of the Corporations Act winding up provisions in relation to a transitional corporation to which this item applies.