32Winding up of incorporated associations

32 Winding up of incorporated associations

[Section 32 Subsection (1) amended by No. 9 of 1982, s. 7 and Sched. 10 ][Section 32 Subsection (2) substituted by No. 9 of 1982, s. 7 and Sched. 10 ][Section 32 Subsection (2) amended by No. 97 of 1982, s. 3 and Sched. 1 ][Section 32 Substituted by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001]

(1)  The winding up of an incorporated association is declared to be an applied Corporations legislation matter for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to Part 5.5 (Voluntary winding up), Part 5.6 (Winding up generally) and Part 5.7 (Winding up bodies other than companies) of the Corporations Act, subject to the following modifications:

(a) the modifications referred to in subsection (2) ;

(b) such other modifications (within the meaning of Part 3 of the Corporations (Ancillary Provisions) Act 2001 as may be prescribed by the regulations.

(2)  The following modifications to the text of the Corporations Act apply for the purposes of subsection (1) :

(a) a reference to a company or body is to be read as a reference to an incorporated association;

(b) a reference to the directors of a company is to be read as a reference to the members of the committee of an incorporated association;

(c) a reference to the secretary of a company is to be read as a reference to the public officer of an incorporated association;

(d) a reference to the principal place of business of a company is to be read as a reference to the address of the public officer of an incorporated association last notified under this Act to the Commissioner;

(e) a reference to a company carrying on business or having a place of business is to be read as a reference to an incorporated association pursuing its objects;

(f) a reference to ASIC is to be read as a reference to the Commissioner;