Victorian Consolidated Legislation

Queen Victoria Women's Centre Act 1994 - SECT 22

Winding up

22. Winding up



(1) The Trust may be wound up if the Minister determines that the Trust is
unable to pay its debts as they fall due.

(2) If the Minister makes a determination under subsection (1), he or she must
appoint a liquidator and must fix the liquidator's remuneration.



(3) The winding up of the Trust under this section is declared to be an
applied Corporations legislation matter for the purposes of Part 3 of the
Corporations (Ancillary Provisions) Act 2001 in relation to the provisions of
Part 5.6 (Winding up generally) of the Corporations Act, subject to the
following modifications-

   (a)  those provisions apply as if the Trust were a company;

   (b)  a reference in those provisions to ASIC is to be read as a reference
        to the Minister;

   (c)  a reference in those provisions to the Gazette is to be read as a
        reference to the Government Gazette;

   (d)  a reference in those provisions to the directors of a company is to be
        read as a reference to the members of the Trust;

   (e)  a reference in those provisions to an order of the Court that a
        company be wound up is to be read as a reference to the determination
        of the Minister under subsection (1);

   (f)  the modifications specified in section 23;

   (g)  any other modifications (within the meaning of Part 3 of the
        Corporations (Ancillary Provisions) Act 2001) that are prescribed by
        the regulations.

Note Part 3 of the Corporations (Ancillary Provisions) Act 2001 provides for
the application of provisions of the Corporations Act and Part 3 of the ASIC
Act as laws of the State in respect of any matter declared by a law of the
State (whether with or without modification) to be an applied Corporations
legislation matter for the purposes of that Part in relation to those
Commonwealth provisions.