New South Wales Consolidated Acts

BANANA INDUSTRY ACT 1987 - SECT 4

4 Dissolution of Committee

(1) If a poll is taken and is in favour of the dissolution of the Committee, the Committee shall, on and from a day appointed by the Governor for the purpose by proclamation, being a day not later than 6 months after the taking of the poll, proceed to be wound up.

(2) The Committee shall wind up its affairs unless, by the same or a subsequent proclamation, the Governor appoints a liquidator to wind up the affairs of the Committee.

(3) Upon the appointment of a liquidator, the members shall cease to act as members and the liquidator may, for the purpose of winding up the affairs of the Committee, in the name and as the act and, where necessary, under the seal of the Committee:

(a) exercise such of the functions of the Committee,

(b) bring and defend such proceedings, and

(c) do and execute such other acts and things,

as the liquidator thinks fit.

(4) A liquidator shall receive such remuneration as the Governor determines.

(5) The Governor may, by proclamation published at any time after the day appointed under subsection (1), declare the Committee to be dissolved.

(6) The dissolution of the Committee shall take effect on the date of publication of the proclamation under subsection (5) or a later date specified in the proclamation.

(7) On the dissolution of the Committee, all money and other assets of the Committee:

(a) shall vest in Her Majesty, and

(b) shall be dealt with and disposed of as the Governor may direct.