Buckland Products Pty Ltd v Deputy Commissioner of Taxation; Burwood Retail Pty Ltd v Deputy Commissioner of Taxation; Scandi (Qld) Pty Ltd v Deputy Commissioner of Taxation

[2003] VSCA 85

Victorian Court of Appeal

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Catchwords

1. Corporations
2. › Winding up in insolvency
3. › Statutory demand
4. › Application to set aside
5. › Period for compliance
6. › Whether application 'finally determined' by order of Master notwithstanding pending appeal
7. › Corporations Act 2001 (Cth), ss 459F, 459G
1. Corporations
2. › Winding up in insolvency
3. › Powers of officers during winding up
4. › Section 471A prohibition
5. › Whether residual powers of directors survive s 471A
6. › Whether continued prosecution of appeal constitutes exercise of function or power as officer
7. › Corporations Act 2001 (Cth), s 471A

Quick Take

An application under s 459G to set aside a statutory demand is 'finally determined' for the purposes of s 459F(2)(a)(ii) when the Master makes the order, not when appeal rights are exhausted. A company wishing to appeal must obtain an extension of the compliance period under s 459F(2)(a)(i) before the period expires, or the appeal becomes futile. Section 471A precludes the continued prosecution of appeals by companies in winding up without the liquidator's or Court's approval, and the residual powers doctrine recognised in Re Diamond Fuel Company does not survive s 471A.