Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 12 - TRANSFER OF REGISTRATION, DEREGISTRATION AND UNCLAIMED PROPERTY  

PART 12-1 - TRANSFER OF REGISTRATION TO ANOTHER SYSTEM  

Division 540 - Transfer of registration  

SECTION 540-10  

540-10   REGISTRAR MAKES TRANSFER OF REGISTRATION DECLARATION  
The Registrar may make a transfer of registration declaration in relation to the Aboriginal and Torres Strait Islander corporation under this section if the Registrar is satisfied that:

(a)    the application complies with section 540-5 ; and

(b)    the corporation ' s creditors are not likely to be materially prejudiced by the transfer of the corporation ' s registration; and

(c)    the law of the Commonwealth, the State or the Territory concerned adequately provides for:

(i) the continuation of the corporation ' s legal personality after the transfer; and

(ii) the preservation of any rights or claims against the corporation (other than the right of a member as a member) that accrued while the corporation was registered under this Act.