Section 588FGAB — Corporations Act 2001 (Cth)

Reasons

(1) An order under subsection 588FGAA(3) must include written reasons for the making of the order (including why ASIC is satisfied section 588FGAA applies).

Orders for payment

(2) An order under paragraph 588FGAA(3)(b) (requiring a person to pay a company an amount) may require the amount to be paid at a time or within a period set out in the order.

Liquidator to be given copies of orders etc.

(3) If ASIC makes an order under subsection 588FGAA(3) relating to a company, ASIC must give the company’s liquidator a copy of the order, and of any revocation or amendment of the order.

Related sections

• s 588FF — Courts may make orders about voidable transactions
• s 588FG — Transaction not voidable as against certain persons
• s 588FGAA — ASIC may order undoing of effect of creditor‑defeating dispositions by company being wound up
• s 588FGAC — Compliance with orders generally
• s 588FGAD — Compliance with orders for payment
• s 588FGAE — Court may set aside order by ASIC

Research how courts apply s 588FGAB

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