ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 130 Procedure for winding up on certificate

ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 130

    (1)     The winding up of an incorporated association on the certificate of the Registrar commences—

        (a)     at the end of 28 days after the certificate is issued, unless an application is made under section 129; or

        (b)     if an application is made under section 129 and the Supreme Court upholds the decision to issue the certificate—on the determination of the application.

    (2)     On the commencement of the winding up, the Registrar may appoint a person to be the liquidator of the association.

    (3)     A liquidator appointed under this section need not be a registered liquidator under the Corporations Act.

    (4)     A liquidator must within 10 days after being appointed under this section publish notice of the appointment in the Government Gazette.

Penalty:     10 penalty units.

    (5)     The liquidator must—

        (a)     have adequate and appropriate professional indemnity insurance and fidelity insurance; or

        (b)     give to the Registrar the prescribed security.

    (6)     The liquidator is entitled to receive the fees determined by the Registrar.

    (7)     If the office of liquidator becomes vacant, the Registrar must appoint a person to fill the vacancy.