80Procedure for winding up on certificate

80 Procedure for winding up on certificate (1) The Commissioner must appoint a person (including a general partner in the partnership or a person who is not a registered liquidator for the Corporations Act 2001) to be the liquidator for the winding up. (2) The liquidator: (a) must, within 10 days after the appointment, publish a notice of the appointment in a newspaper circulating generally in the Territory; and (b) must give the prescribed security for the winding up; and (c) is entitled to receive fees set by the Commissioner. (3) The winding up must begin within: (a) 28 days after the notice referred to in section 78(5)(a)(ii) is given; or (b) if the Supreme Court confirms the decision to issue the certificate under section 79 – 28 days after the confirmation. (4) The winding up must be completed by the day: (a) stated in a notice given by the Commissioner to the partnership; and (b) at least 60 days after the giving of the notice. (5) The reasonable costs of the winding up are payable out of the partnership property.