Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 479

479. (1) Subject to this Part, the liquidator shall, in the administration of
the property of the company and in the distribution of the property among its
creditors, have regard to any directions given by resolution of the creditors
or contributories at any general meeting or by the committee of inspection,
and, in case of conflict, any directions so given by the creditors or
contributories override any directions given by the committee of inspection.

(2) The liquidator may convene general meetings of the creditors or
contributories for the purpose of ascertaining their wishes, and he or she
shall convene meetings at such times as the creditors or contributories by
resolution direct or whenever requested in writing to do so by at least
one-tenth in value of the creditors or contributories.

(3) The liquidator may apply to the Court for directions in relation to any
particular matter arising under the winding up.

(4) Subject to this Part, the liquidator shall use his or her own discretion
in the management of affairs and property of the company and the distribution
of its property.