Application for forfeiture of mining tenement while holder is a company in process of winding up
101 Application for forfeiture of mining tenement while holder is a company in process of winding up
An application under section 96 or 98 for the forfeiture of a mining tenement for breach of the prescribed expenditure conditions applicable thereto while the holder thereof is a company in respect of which a winding up order has been made or a provisional liquidator has been appointed under the Corporations Law shall not be an action or proceeding for the purposes of subsection (2) of section 471 of that Law (or any provision of that Law which replaces or is substituted for that subsection), and notwithstanding anything therein contained to the contrary, the application may be commenced and proceeded with without the leave of the Supreme Court, and the mining tenement is liable to forfeiture accordingly.
The following matter is declared to be an excluded matter for the purposes of section 5F of the Corporations Act in relation to section 471B of that Act — an application under section 96 or 98 for the forfeiture of a mining tenement for breach of the prescribed expenditure conditions applicable to the tenement while the holder of the tenement is a company in respect of which a winding up order has been made, or a provisional liquidator appointed, under the Corporations Act.
[Section 101 amended: No. 10 of 1982 s. 28; No. 100 of 1985 s. 75; No. 37 of 1993 s. 27; No. 10 of 2001 s. 135; No. 15 of 2002 s. 23; No. 8 of 2009 s. 8.]
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