Corporations Regulations 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3B - RESTRUCTURING OF A COMPANY  

Division 3 - Restructuring plan  

Subdivision B - Proposing a restructuring plan  

REGULATION 5.3B.24  

5.3B.24   COMPANY UNDER RESTRUCTURING MUST DO CERTAIN THINGS  

This regulation is satisfied in relation to a company under restructuring if:

(a)    the company has:

(i) paid the entitlements of its employees that are payable; and

(ii) given returns, notices, statements, applications or other documents as required by taxation laws (within the meaning of the Income Tax Assessment Act 1997 ); or

(b)    the company is substantially complying with the matter concerned.

Note: Employee entitlements are defined in subsections 596AA(2) and (3) of the Act and include superannuation contributions payable by the company.