Schedule 1a rules for proceedings under corporations act or asic act. Supreme court corporations wa rules 2004 contents as at 01 jan 2020 version 02b001 page iii published on. Corporations act 2001 sect 459c presumptions to be. Supreme court corporations amendment no 14 rules 2019. Pdf versions of this legislation produced from 23 september 20 are. Affidavit in support of application for winding up ss 459p, 462, 464 of the corporations act 5. This act may be cited as the public corporations act. Powers of the minister of parent ministry in relation to a. In a number of insolvency provisions the corporations act employs the term contingent creditor or contingent claim.
Court may declare whether controller is validly acting 419. The fact that a matter satisfies all procedural requirements. S 459p1 sets out the various entities entitled to make such an application, and they include. Guidelines for applicants winding up insolvent companies in the supreme court of queensland corporations court section 459p corporations act 2001 cth the following procedure is provided as a guide only and does not constitute legal advice. Corporations act 2001 sect 459c presumptions to be made in. Legislation revision and publication act 2002 h in respect of part 5. Online lodgement, not applicable, paper lodgement, download form 519 pdf 148 kb. Affidavit in support of application for windingup corporations act s. Section 459p of the act the following may apply to the court for a company to be. Opposing applications to wind up a company in insolvency. Given this failure, there is an onus on the respondent to rebut the presumption of insolvency under s 459c2a. Corporations act 2001 sect 459p who may apply for order under section 459a 1 any one or more of the following may apply to the court for a company to be wound up in insolvency. Supreme court corporations wa rules 2004 contents as at 01 jan 2020 version 02b001 page iii.
How to provide additional information photocopied form 519 pages if there is insufficient space in any section of the form, you may photocopy the relevant pages and submit as part of this lodgement. Section 459e of the corporations act 2001 cth permits the service of a creditors statutory demand on a company where the demand relates to a debt that is owing, due and payable by the company to the creditor. S 459a corporations act 2001 gives the court the power to order that an insolvent company be wound up in insolvency. Court held respondent had standing as a creditor in accordance with s 459p1b corporations act 2001 cth. Winding up order how to wind up a company stonegate legal. Applications to wind up corporations jarrod white barrister. Supreme court corporations rules 1999 nsw legislation. Corporations act 2001 sect 180 care and diligence civil obligation only. Application for leave to apply for windingup in insolvency corporations act s. Statutory demands the meaning of debt in s 459e of the.
Time for doing act does not run while act prevented by this part part 5. Commercial and corporate law corporations and securities key. Application of acts interpretation act 1901 part 1. If a person applies under section 459p, 462 or 464 of the corporations act for a company to be wound up, the person must cause a notice, setting out the information prescribed by regulation 5. Queensland judgments ucprschedule 1a rules for proceedings. Guidelines for applicants winding up insolvent companies in. Page 5 corporations law amendment no 3 rules 2003 amendments schedule 1 2003 no 961 15 rule 2. Note under the corporations act, s 9, a reference to the act includes a reference to the corporations regulations. This compilation is affected by retrospective amendments. Australian insolvency section corporations act 2001. This is because of the presumption of insolvency, on which the creditor is entitled to rely, in the event of such failure. Annexures to make any annexure conform to the regulations, you must 1. Corporations act 2001 sect 459p who may apply for order.
The corporations act 2001 cth updated april 2016 deals with regulatory behaviour of corporates, directors duties and reporting. If a creditor has filed a notice of winding up under section 459p of the corporations act you need to take act immediately. A creditor, therefore, cannot make demand for something that does not have the characteristics of a debt within the meaning of that section. Supreme court corporations wa rules 2004 contents page v this printout is not an official version of the legislation 11. Even late in the day, there are options that may be available to you. Corporations act 2001 notification of court action relating. Guidelines for applicants winding up insolvent companies. The primary judge found that equilibrium was insolvent at the time of. The respondent bluestone applied under ss 459a and 459p of the corporations act 2001 cth the act for the appellant equilibrium to be wound up in insolvency.
Of those applications brought under section 459p, the vast majority of these are brought after the debtor company has failed to comply with a statutory demand prepared in accordance with section 459e of the corporations act. In this act chairman means chairman of a corporation, being a corporation. Statutory demands the meaning of debt in s 459e of the corporations act 2001 cth posted on november 9, 2015 by karin ottesen section 459e of the corporations act 2001 cth permits the service of a creditors statutory demand on a company where the demand relates to a debt that is owing, due and payable by the company to the. Please see the treasury laws amendment 2017 measures no.
Corporations act 2001 federal register of legislation. Related forms related information online lodgement. This demand is called a creditors statutory demand and is issued using form 509h. Corporations act 2001 notification of court action. Supreme court corporations amendment no 14 rules 2019 nsw schedule 1 amendment of supreme court corporations rules 1999 published lw 5 april 2019 2019 no 161 18 rule 7. Mar 02, 2014 court held respondent had standing as a creditor in accordance with s 459p 1b corporations act 2001 cth. An application has been made under section 459p of the. Creditors statutory demand for payment of debt elliott may lawyers. Standing as a creditor in accordance with s 459p1b. If a person applies under the corporations act, section 459p, 462 or.
If a person applies under the corporations act, section 459p, 462 or 464 for a company to be wound up, the person must cause a notice, setting out the information prescribed by the corporations regulations, regulation 5. Supreme court corporations western australian legislation. An example of the affidavit in support of an application for winding. Corporations act 2001 sect 180 care and diligencecivil. The public corporations act, 1992 arrangement of sections section title part i preliminary 1. Corporations law amendment no 3 rules 2003 under the supreme court act 1970 published in gazette no 197 of 19 december 2003, page 177 page 1. An act to make provision in relation to corporations and financial products and services, and for other purposes. A contingent creditor may apply for an order to wind up a company on grounds of insolvency s 459p. An application has been made under section 459p of the corporations act 2001 to the court for the winding up of our company remote housings systems rhs pty ltd acn 140 340 129 on the grounds of insolvency.