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 522-2   CORPORATIONS ACT RESTRUCTURING PRACTITIONER CANNOT BE APPOINTED IF SPECIAL ADMINISTRATOR APPOINTED  

522-2(1)    
A restructuring practitioner for an Aboriginal and Torres Strait Islander corporation cannot be appointed under Part 5.3B of the Corporations Act (as applied by section 522-1 of this Act) if:

(a)    the corporation is under special administration under Part 11-2 ; or

(b)    the Registrar:

(i) has given the corporation a notice under subsection 487-10(1) ; and

(ii) has not given the corporation a notice under subsection 487-10(5) .

522-2(2)    
Paragraph (1)(b) does not apply if the Registrar has consented in writing to the appointment of the restructuring practitioner under Part 5.3B of the Corporations Act (as applied by section 522-1 of this Act).

522-2(3)    
A consent under subsection (2) to the appointment of a restructuring practitioner is not a legislative instrument.