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 522-1   APPLYING CORPORATIONS ACT RESTRUCTURING PROVISIONS TO ABORIGINAL AND TORRES STRAIT ISLANDER CORPORATIONS  

522-1(1)    
The Corporations Act restructuring provisions apply to an Aboriginal and Torres Strait Islander corporation as if the following substitutions were made:

Substitutions to be made
Item	For a reference to ...	substitute a reference to ...
1	a company	an Aboriginal and Torres Strait Islander corporation
2	ASIC	the Registrar
3	a deed of company arrangement	a deed of corporation arrangement

522-1(2)    
The Corporations Act restructuring provisions apply to an Aboriginal and Torres Strait Islander corporation:

(a)    only to the extent to which they are capable of applying to an Aboriginal and Torres Strait Islander corporation; and

(b)    with the modifications specified in the regulations.

522-1(3)    
Regulations made for the purposes of paragraph (2)(b) must not:

(a)    increase, or have the effect of increasing, the maximum penalty for any offence; or

(b)    widen, or have the effect of widening, the scope of any offence.

522-1(4)    
In this Act:

Corporations Act restructuring provisions
means:

(a) Part 5.3B of, and Schedule 2 to, the Corporations Act; and

(b) the other provisions of that Act (including Parts 1.2 , 5.8 , 5.9 and 9.4 and Schedule 3 but not including Parts 1.1 , 1.1A and 9.4A ) to the extent to which they relate to the operation of Part 5.3B of, and Schedule 2 to, that Act; and

(c) the regulations and rules made under that Act for the purposes of Part 5.3B of, and Schedule 2 to, that Act and the provisions referred to in paragraph (b).