Victorian Consolidated Legislation

Trustee Companies Act 1984 - SECT 29

No winding up where estate unadministered

29. No winding up where estate unadministered

So long as an estate in respect of which a trustee company is executor,
administrator, trustee or guardian remains in whole or in part unadministered,
it shall not be lawful to proceed to wind up the trustee company voluntarily
unless with the sanction of the Supreme Court and it shall be lawful for any
person interested in the estate or who has any claim in respect of the estate
to apply to the Supreme Court to restrain a director or any shareholder from
disposing of any share which the director or shareholder holds in the trustee
company or to restrain the winding up voluntarily of the trustee company, and
the Supreme Court shall in every such case have power to make such order in
the matter as the circumstances of each case appear to the Supreme Court to
require.