The Court of Appeal held by majority that the power under s 459F(2)(a)(i) to extend time for compliance with a statutory demand can be exercised after the time has expired, when read with s 70 of the Corporations Act. The majority overruled the longstanding Livestock Traders interpretation, holding that s 70 expressly permits applications for extension to be made and granted after expiry. However, Chernov JA and Nettle JA dissented on this substantive issue, creating uncertainty about whether other courts will follow this interpretation.
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