Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 11 - EXTERNAL ADMINISTRATION  

PART 11-4A - RESTRUCTURING OF AN ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION  

Division 522 - Restructuring of an Aboriginal and Torres Strait Islander corporation  

SECTION 522-3  

522-3   EFFECT OF APPOINTMENT OF SPECIAL ADMINISTRATOR - ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATION UNDER RESTRUCTURING  

If:

(a)    a restructuring practitioner for an Aboriginal and Torres Strait Islander corporation is appointed under Part 5.3B of the Corporations Act (as applied by section 522-1 of this Act); and

(b)    while that appointment continues, a special administrator for the corporation is appointed under Part 11-2 ; and

(c)    at the time the special administrator is appointed, the corporation has not made a restructuring plan;

the restructuring of the corporation under Part 5.3B of the Corporations Act (as applied by section 522-1 of this Act) ends on the day on which the special administrator is appointed.