ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 127 Winding up on certificate of Registrar

ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 127

    (1)     An incorporated association may be wound up on the certificate of the Registrar if the Registrar certifies that the necessary grounds for taking that action exist.

    (2)     For the purposes of subsection (1), the necessary grounds exist if—

        (a)     there are fewer than 5 members of the association; or

        (b)     the association is not in operation; or

        (c)     the association has secured pecuniary profit for its members; or

        (d)     the association has, as trustee, secured pecuniary profit for its members; or

Note

For circumstances under which, for the purposes of this Act, an incorporated association is taken not to have secured pecuniary profit for its members, see section 4.

        (e)     the association has not lodged with the Registrar copies of the financial statements of the association in accordance with section 102 for each of the preceding 2 years; or

        (f)     the incorporation of the association has been obtained by fraud or mistake; or

        (g)     the association exists for an illegal purpose; or

        (h)     the association has—

              (i)     been given notice by the Registrar of a breach of this Act or the regulations or the rules of the association; and

              (ii)     failed to remedy the breach within the time specified in the notice; or

              (i)     the association has failed to comply with a direction by the Registrar under section 111(1) within the period specified in the notice; or

        (j)     in the opinion of the Registrar, circumstances exist which, in the public interest, justify the winding up of the association.

    (3)     The Registrar must not certify any matter referred to in subsection (2) unless the matter has been proved to the satisfaction of the Registrar.

Note

Under section 151, the winding up of an incorporated association is declared to be an applied Corporations legislation matter in relation to the provisions of Part 5.6 (Winding up generally) of the Corporations Act. As such, the winding up of an incorporated association is subject to any requirements under those provisions.