Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006

This item applies if, before commencement:

a transitional corporation had been wound up under the old Act; and

on the winding up, there remained surplus assets; and

a resolution relating to the distribution of the surplus assets of the transitional corporation had been passed by at least two‑thirds of the members of the transitional corporation; and

some or all of the surplus assets had not been distributed in accordance with the resolution.

For the purposes of sections 526‑25 and 526‑30 of the new Act, the resolution has effect as if it had been passed by a special resolution of the transitional corporation.