Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p66
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 66/110)
Character Range: 320205–322995

in relation to the administration that ended when the deed was executed; or

    (d)     if the resolution is taken to have been passed because, at a meeting convened under section 445F, the company's creditors:

         (i) passed a resolution terminating a deed of company arrangement executed by the company; and

         (ii) also resolved under section 445E that the company be wound up;

     on the section 513C day in relation to the administration that ended when the deed was executed;

  (e) otherwise—on the day on which the resolution was passed.

Section 513C day in relation to an administration under Part 5.3A

"513C. The section 513C day in relation to the administration of a company is:

    (a)     if, when the administration began, a winding up of the company was in progress—the day on which the winding up is taken because of this Division to have begun; or

  (b)     otherwise—the day on which the administration began.

Validity of proceedings in earlier winding up

  "513D. Where, at the time when:

    (a) the Court orders under section 260, 459A, 459B or 461 that a company be wound up; or

     (b) a company resolves by special resolution that it be wound up voluntarily;

a winding up of the company is already in progress, all proceedings in the last-mentioned winding up are taken to have been valid, except so far as the Court otherwise orders because fraud or mistake has been proved.".

Repeal of section 525

  86.     Section 525 of the Corporations Law is repealed.

87.     Before section 531 of the Corporations Law the following sections are inserted in Division 3 of Part 5.6:

Officers to help liquidator

"530A.(1) As soon as practicable after the Court orders that a company be wound up or appoints a provisional liquidator of a company, or a company resolves that it be wound up, each officer of the company must:

    (a)     deliver to the liquidator appointed for the purposes of the winding up, or to the provisional liquidator, as the case may be, all books in the officer's possession that relate to the company, other than books possession of which the officer is entitled, as against the company and the liquidator or provisional liquidator, to retain; and

    (b)     if the officer knows where other books relating to the company are—tell the liquidator or provisional liquidator where those books are.

"(2) Where a company is being wound up, or a provisional liquidator of a company is acting, an officer of the company must:

    (a)     attend on the liquidator or provisional liquidator at such times; and

    (b)     give the liquidator or provisional liquidator such information about the company's business, property, affairs and financial circumstances; and

(c) attend such meetings of the company's creditors or