Corporations Act 2001

A reference in this section to an order to wind up a company is a reference to an order to wind up the company on a ground provided for by section 461.

Subject to this section, any one or more of the following may apply for an order to wind up a company:

the company; or

a creditor (including a contingent or prospective creditor) of the company; or

a contributory; or

the liquidator of the company; or

ASIC pursuant to section 464; or

ASIC (in the circumstances set out in subsection (2A)); or

APRA.

ASIC may apply for an order to wind up a company under paragraph (2)(f) only if:

the company has no members; and

ASIC has given the company at least 1 month’s written notice of its intention to apply for the order.

The Court must not hear an application by a person being, or persons including, a contingent or prospective creditor of a company for an order to wind up the company unless and until:

such security for costs has been given as the Court thinks reasonable; and

a prima facie case for winding up the company has been established to the Court’s satisfaction.

Except as permitted by this section, a person is not entitled to apply for an order to wind up a company.