CORPORATIONS ACT 2001 - SECT 486B Warrant to arrest person who is absconding, or who has dealt with property or books, in order to avoid obligations in connection with winding up

CORPORATIONS ACT 2001 - SECT 486B

  (1)   The Court may issue a warrant for a person to be arrested and brought before the Court if:

  (a)   a company is being wound up in insolvency or by the Court, or an application has been made for a company to be so wound up; and

  (b)   the Court is satisfied that the person:

  (i)   is about to leave this jurisdiction, or Australia, in order to avoid:

  (A)   paying money payable to the company; or

  (B)   being examined about the company's affairs; or

  (C)   complying with an order of the Court, or some other obligation, under this Chapter in connection with the winding up; or

  (ii)   has concealed or removed property of the company in order to prevent or delay the taking of the property into the liquidator's custody or control; or

  (iii)   has destroyed, concealed or removed books of the company or is about to do so.

Note:   For procedures relating to such a warrant, see Subdivision B.

  (2)   A warrant under subsection   (1) may also provide for property or books of the company in the person's possession to be seized and delivered into the custody of a specified person.

  (3)   A warrant under subsection   (1) may only be issued on the application of:

  (a)   a liquidator or provisional liquidator of the company; or

  (b)   ASIC.