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Published by Andrew Lacey
Mar 12, 2019 in Insolvency

ASIC fails in bid to have deregistered company re-instated

The extent of ASIC’s power to reinstate a company, as well as what is meant by an ‘person aggrieved’ for the purposes of s 601AH of the Corporations Act, were recently clarified by Reeves J in the Federal Court case of ASIC v CFS Private Wealth Pty Ltd [2019] FCA 24. Under s 601AD of the Corporations Act 2001 (the Act), a company ceases to exist on deregistration, and its property vests either (a) in the Commonwealth (all property held...

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