Section 489EB — Corporations Act 2001: Deemed resolution that company be wound up voluntarily

If ASIC orders under section 489EA that a company be wound up: (a) the company is taken to have passed a special resolution under section 491 that the company be wound up voluntarily; and (b) the company is taken to have passed the special resolution: (i) at the time when ASIC made the order under section 489EA; and (ii) without a declaration having been made and lodged under section 494; and (c) section 496 has effect as if: (i) a declaration had been made under section 494; and (ii) the reference in subsection 496(1) to the period stated in the declaration were a reference to the 12-month period beginning when ASIC made the order under section 489EA; and (d) section 497 is taken to have been complied with in relation to the winding up.