177Application of Corporations Act to winding-up of societies

#### 177 Application of Corporations Act to winding-up of societies 177 Application of Corporations Act to winding-up of societies > > (1) Subject to this Division, a society matter is declared to be an applied Corporations legislation matter for the purposes of Part 3 of the [Corporations (Ancillary Provisions) Act 2001](/view/html/inforce/current/act-2001-032) in relation to the Commonwealth winding-up and deregistration provisions, subject to the following modifications to those provisions— > > > > > (a) a reference to a special resolution is to be read as a reference to a special resolution under this Act, > > > > > (b) a reference to ASIC is to be read as a reference to the Registrar, > > > > > (c) a reference to a voluntary winding-up includes a reference to a winding-up of a society on a certificate of the Registrar, > > > > > (c1) a reference to the Court or the Court (within the meaning of section 58AA) in Division 2A of Part 5.7B is to be read as a reference to the Supreme Court, > > > > > (c2) section 588FK is to be read as if the definition of PPSA security interest in section 588FK (4) read as follows and the note to the section were omitted— > > > > > > > PPSA security interest (short for Personal Property Securities Act security interest) means a security interest to which the [Personal Property Securities Act 2009](http://www.legislation.gov.au/) of the Commonwealth applies (including a transitional security interest within the meaning of that Act). > > > > > (c3) section 588FL (1) (a) is to be read as if the following subparagraph were inserted after subparagraph (i)— > > > > > > > > “(ia) a certificate is issued by the Registrar under section 176 of the [Co-operative Housing and Starr-Bowkett Societies Act 1998](/view/html/inforce/current/act-1998-011) for the winding up of a society;”, > > > > > (c4) the definition of critical time in section 588FL (7) is to be read as if the words “(as applied and modified by section 177 of the [Co-operative Housing and Starr-Bowkett Societies Act 1998](/view/html/inforce/current/act-1998-011))” were inserted after “513B” in paragraph (a) of that definition, > > > > > (d) such other modifications (within the meaning of Part 3 of the [Corporations (Ancillary Provisions) Act 2001](/view/html/inforce/current/act-2001-032)) as may be prescribed by the regulations. > > > > Note. > > > > See note to section 17 (1). > > > (2) In this section— > > > > Commonwealth winding-up and deregistration provisions means— > > > > > (a) the provisions of Parts 5.4, 5.4A, 5.4B, 5.5, 5.6, 5.7B (other than section 588G) and 5.9 of the Corporations Act, or > > > > > (b) the provisions of Part 5A.1 of the Corporations Act. > > > > society matter means— > > > > > (a) the winding-up or dissolution of a society, or > > > > > (b) a defunct or dissolved society. > > **s 177:** Subst 2001 No 34, Sch 4.11 \[19\]. Am 2010 No 119, Sch 1.8 \[2\]; 2016 No 55, Sch 3.4.