Warrant to arrest person who is absconding, or who has dealt with property or books, in order to avoid obligations in connection with winding up
486B Warrant to arrest person who is absconding, or who has dealt with property or books, in order to avoid obligations in connection with winding up
The Court may issue a warrant for a person to be arrested and brought before the Court if:
a company is being wound up in insolvency or by the Court, or an application has been made for a company to be so wound up; and
the Court is satisfied that the person:
is about to leave this jurisdiction, or Australia, in order to avoid:
paying money payable to the company; or
being examined about the company’s affairs; or
complying with an order of the Court, or some other obligation, under this Chapter in connection with the winding up; or
has concealed or removed property of the company in order to prevent or delay the taking of the property into the liquidator’s custody or control; or
has destroyed, concealed or removed books of the company or is about to do so.
For procedures relating to such a warrant, see Subdivision B.
A warrant under subsection (1) may also provide for property or books of the company in the person’s possession to be seized and delivered into the custody of a specified person.
A warrant under subsection (1) may only be issued on the application of:
a liquidator or provisional liquidator of the company; or
ASIC.
This Act’s bill:Explanatory memorandumSecond reading speech
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