5.5.06
CurrentNotice of adoption of simplified liquidation process
Chapter 5External administration
Part 5.5Voluntary winding up
Division 2Simplified liquidation process
Subdivision BSimplified liquidation process
5.5.06 Notice of adoption of simplified liquidation process
(1)
This regulation is made for the purposes of paragraph 500AE(3)(f) of the Act.
(2)
If the liquidator of a company adopts the simplified liquidation process on a day, the liquidator must, within 2 business days after that day, lodge with ASIC:
(a)
notice in the prescribed form (if any) of the adoption; and
(b)
a copy of the declaration given by the directors of the company to the liquidator in accordance with section 498 of the Act.
Note:
Failure to comply with this subregulation is an offence: see subsection 1311(1) of the Act.
This Act’s bill:Explanatory statement
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