Winding up ordered by Court
(1) The Court may, by order, direct the responsible entity of a registered scheme to wind up the scheme if: (a) the Court thinks it is just and equitable to make the order; or (b) within 3 months before the application for the order was made, execution or other process was issued on a judgment, decree or order obtained in a court (whether an Australian court or not) in favour of a creditor of, and against, the responsible entity in its capacity as the scheme’s responsible entity and the execution or process has been returned unsatisfied. (2) An order based on paragraph (1)(a) may be made on the application of: (a) the responsible entity; or (b) a director of the responsible entity; or (c) a member of the scheme; or (d) ASIC. (3) An order based on paragraph (1)(b) may be made on the application of a creditor.
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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