South Australian Consolidated Acts South Australian Consolidated Acts25—Outstanding property held by CAC
Any estate or interest in property of a company that no longer exists vested
in the Corporate Affairs Commission pursuant to section 399 of the Companies
Act 1962 and still held by the Corporate Affairs Commission immediately
before the commencement of this section will, on that commencement, be taken
to be property of a deregistered company under section 601AD of the
Corporations Law (and will accordingly vest in ASIC under that section (on the
basis that ASIC will take only the same property rights that the Corporate
Affairs Commission held)).