Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 11 - EXTERNAL ADMINISTRATION  

PART 11-2 - SPECIAL ADMINISTRATION  

Division 499 - Function, duties and powers of special administrator  

SECTION 499-5   POWERS OF SPECIAL ADMINISTRATOR  

499-5(1)    
While an Aboriginal and Torres Strait Islander corporation is under special administration, the special administrator:

(a)    has control of the corporation ' s business, property and affairs; and

(b)    may carry on that business and manage that property and those affairs; and

(c)    may terminate or dispose of all or part of that business, and may dispose of any of that property; and

(d)    may engage or discharge employees on behalf of the corporation; and

(e)    may perform any function, and exercise any power, that:

(i) the corporation; or

(ii) any of the corporation ' s officers; or

(iii) the corporation ' s members;

could perform or exercise if the corporation were not under special administration.

This subsection has effect even if the offices of the corporation ' s officers are not vacated on the appointment of the special administrator.

499-5(2)    
To avoid doubt and without limiting paragraph (1)(e) , the special administrator may perform any function and exercise any power that the corporation has as trustee.

499-5(3)    
Without limiting subsection (1) , the special administrator may do the following:

(a)    change the corporation ' s constitution;

(b)    admit a person as a member of the corporation;

(c)    remove a person as a member of the corporation;

(d)    appoint a person as a director or secretary of the corporation;

(e)    terminate a person ' s appointment as a director or secretary of the corporation;

(f)    terminate a person ' s appointment as contact person for the corporation.

499-5(4)    
In changing the corporation ' s constitution, the special administrator does not have to comply with paragraph 69-5(1)(a) (special resolution), section 69-15 (satisfying extra requirements in constitution) or section 69-20 (corporation to lodge copy of changes).

Note:

The special administrator must still lodge a copy of the change under section 69-25 .