8Modifications to application of Corporations Act—winding up

8 Modifications to application of Corporations Act—winding up

8 Modifications to application of Corporations Act—winding up

(1) For the Act, section 177(1)(d), the modifications specified in this section are prescribed.

(2) The Corporations Act, section 461 is modified by replacing section 461(1)(h) with the following—

(h) the Registrar has, because of an investigation under the Co-operative Housing and Starr-Bowkett Societies Act 1998 into the affairs of the society, stated that—

(i) the society cannot pay its debts and should be wound up; or

(ii) it is in the interests of the public or of members or creditors that the society be wound up; or

(3) The Corporations Act, section 462 is modified by omitting section 462(2)(h).

(4) The Corporations Act, section 464 is modified—

(a) by omitting “Where ASIC is investigating, or has investigated, under Division 1 of Part 3 of the ASIC Act:” from section 464(1), and

(b) by inserting instead “If the Registrar is conducting or has conducted an investigation under the Co-operative Housing and Starr-Bowkett Societies Act 1998:”.

(5) The Corporations Act, Part 5.6 is modified by inserting the following after section 543—

(6) The Corporations Act, Part 5.7B is modified by omitting sections 588J–588L and 588Q.