Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 11 - EXTERNAL ADMINISTRATION  

PART 11-2 - SPECIAL ADMINISTRATION  

Division 505 - Termination of special administrator ' s appointment  

SECTION 505-1   TERMINATION OF APPOINTMENT OF SPECIAL ADMINISTRATOR  

505-1(1)    
The appointment of a special administrator for an Aboriginal and Torres Strait Islander corporation terminates if:

(a)    the period for which the special administrator is appointed ends; or

(b)    the special administrator dies; or

(c)    a liquidator for the corporation is appointed; or

(d)    the corporation is being wound up; or

(e)    the special administrator resigns the appointment by notice in writing to the Registrar; or

(f)    the Registrar terminates the special administrator ' s appointment under subsection (4) ; or

(g)    the Registrar terminates the special administration under section 487-20 .

Note:

505-1(2)    
Subject to subsection (3) , the special administrator ' s resignation under paragraph (1)(e) takes effect at the end of the period of 28 days after the day on which the special administrator gives the notice to the Registrar.

505-1(3)    
The Registrar may, on application by the special administrator, determine in writing that the special administrator ' s resignation is to take effect before the end of the period of 28 days referred to in subsection (2) .

505-1(4)    
The Registrar may, by notice in writing to the special administrator for an Aboriginal and Torres Strait Islander corporation, terminate the special administrator ' s appointment if satisfied that it is appropriate to do so.