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Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 11 - EXTERNAL ADMINISTRATION

PART 11-2 - SPECIAL ADMINISTRATION

Division 511 - Miscellaneous

SECTION 511-1 REMUNERATION OF SPECIAL ADMINISTRATOR

511-1(1)
The special administrator for an Aboriginal and Torres Strait Islander corporation is to receive such remuneration (if any) as the Registrar determines in writing.

511-1(2)
A determination under subsection (1) is not a legislative instrument.

511-1(3)
Subject to subsection (4) , the special administrator ' s remuneration, charges and expenses are to be borne by the Commonwealth.

511-1(4)
The Registrar:

(a) may determine, in writing, that some or all of the special administrator ' s remuneration, charges or expenses are to be borne by the corporation or a related body corporate; and

(b) may charge some or all of the remuneration, charges or expenses referred to in paragraph (a) on the property of the corporation or a related body corporate in such order of priority in relation to any existing charges on that property as the Registrar thinks fit.

511-1(5)
This section does not apply to a special administrator who is an APS employee or a Commonwealth officer.

511-1(5A)

View history reference

Subsection 73(2) of the Personal Property Securities Act 2009 applies to a charge created in accordance with paragraph (4)(b) .

Note 1:

The effect of this subsection is that the priority between a charge created in accordance with paragraph (4)(b) and a security interest to which the Personal Property Securities Act 2009 applies is to be determined in accordance with this Act rather than the Personal Property Securities Act 2009 .

Note 2:

Subsection 73(2) of the Personal Property Securities Act 2009 applies to charges that arise after the commencement of subsection (5A) (which is the registration commencement time within the meaning of the Personal Property Securities Act 2009 ).

View history note