65Holding company of body corporate that is wound up

65 Holding company of body corporate that is wound up

65 Holding company of body corporate that is wound up

(1) The Land and Environment Court may order a corporation to comply with a management order at the corporation’s own expense if the corporation was the holding company of a company that—

(a) has been wound up within the 2 years before the Court’s order is made, and

(b) has failed to comply with the management order.

(2) The corporation must comply with the management order, subject to any modification by the Court.

(3) The Court may make an order under this section only if it is satisfied, on an application by the EPA, that—

(a) the corporation was the holding company of the other company at the time when the management order was made, and

(b) there is reason to believe that the other company was wound up as part of a scheme to avoid compliance with the management order.

(4) There is reason for such a belief if—

(a) the corporation contravened section 588V of the Corporations Act 2001 of the Commonwealth in relation to the other company, and

(b) there was (at the time or times when the contravention occurred) reason to believe that the land was contaminated, and

(c) in a case to which regulations made for the purposes of this section apply, the conditions prescribed by those regulations are satisfied.

(5) There is reason for such a belief also if—

(a) the other company carried out one or more transactions—

(i) that were voidable because of section 588FE of the Corporations Act 2001 of the Commonwealth, or

(ii) that were such that the liquidator of the other company had a right to recovery of cash under section 567 of the Corporations Act 2001 of the Commonwealth, or

(iii) by which the other company incurred a debt in relation to which a person contravened section 588G of the Corporations Act 2001 of the Commonwealth, and