Grounds for Court ordered winding up
72 Grounds for Court ordered winding up
Section 526‑5 of the new Act applies in relation to a transitional corporation as if:
the reference in paragraph (b) of that section to the corporation's registration were a reference to its incorporation under Part IV of the old Act; and
the reference in paragraph (j) of that section to section 439‑20 of the new Act included a reference to section 60A of the old Act; and
the reference in paragraph (k) of that section to Part 7‑3 of the new Act included a reference to:
subsections 59(2) to (9) of the old Act; and
Division 10 or 11 of this Part.
The operation of section 526‑5 of the new Act is also extended by item 6 so that the grounds in that section extend to circumstances existing before commencement.
Part 3-Matters pending under old Act immediately before commencement
Division 1-Applications for incorporation
This Act’s bill:Explanatory memorandumSecond reading speech
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