THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

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Pt 5.3A inserted by No 210 of 1992, s 56 (effective 23 June 1993).

Division 9 - Administrator's liability and indemnity for debts of administration

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Heading inserted by No 210 of 1992, s 56 (effective 23 June 1993).

Subdivision A - Liability

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Heading inserted by No 210 of 1992, s 56 (effective 23 June 1993).

SECTION 443A   GENERAL DEBTS  

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443A(1)  [Administrator liable for debts, etc]  

The administrator of a company under administration is liable for debts he or she incurs, in the performance or exercise, or purported performance or exercise, of any of his or her functions and powers as administrator, for:

(a)  services rendered; or

(b)  goods bought; or

(c)  property hired, leased, used or occupied.

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S 443A(1) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

443A(2)  [Administrator's rights against company]  

Subsection (1) has effect despite any agreement to the contrary, but without prejudice to the administrator's rights against the company or anyone else.

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S 443A(2) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

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