Presumptions to be made in certain proceedings
(1) This section has effect for the purposes of: (a) an application under section 234, 459P, 462 or 464; or (b) an application for leave to make an application under section 459P. (2) The Court must presume that the company is insolvent if, during or after the 3 months ending on the day when the application was made: (a) the company failed (as defined by section 459F) to comply with a statutory demand; or (b) execution or other process issued on a judgment, decree or order of an Australian court in favour of a creditor of the company was returned wholly or partly unsatisfied; or (c) a receiver, or receiver and manager, of property of the company was appointed under a power contained in an instrument relating to a circulating security interest in such property; or (d) an order was made for the appointment of such a receiver, or receiver and manager, for the purpose of enforcing such a security interest; or (e) a person entered into possession, or assumed control, of such property for such a purpose; or (f) a person was appointed so to enter into possession or assume control (whether as agent for the secured party or for the company). (3) A presumption for which this section provides operates except so far as the contrary is proved for the purposes of the application.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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