Declaration that company eligible for the simplified liquidation process
498 Declaration that company eligible for the simplified liquidation process
The directors of a company must give the liquidator of the company a declaration in accordance with this section if the directors believe on reasonable grounds that, on the declaration being given, the eligibility criteria for the simplified liquidation process will be met in relation to the company.
The declaration must:
be given within 5 business days after the day of the meeting of the company at which the resolution for voluntary winding up is passed; and
if there is a prescribed form for the declaration—be in the prescribed form; and
if the regulations prescribe information to be included in the declaration—include that information.
The regulations may prescribe information to be included in a declaration under this section.
This provision refers to the regulations (prescribed form
, the regulations
, The regulations may prescribe
). Made under this Act:
- Corporations Regulations 2001 · under s 1364
99 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
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