THE CORPORATIONS LAW

CHAPTER 1 - INTRODUCTORY

PART 1.2 - INTERPRETATION

Division 7 - Interpretation of other expressions

SECTION 53AB   BUSINESS AFFAIRS OF A NATURAL PERSON  

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53AB    A natural person's business affairs include (without limitation):

(a)  the person's examinable operations and examinable assets and liabilities; and

(b)  any act done (including any contract made and any transaction entered into) by or on behalf of the person, or to or in relation to the person or his or her business or property, at a time when:

(i) the person was, under the Bankruptcy Act 1966 or the law of an external Territory, a bankrupt in respect of a bankruptcy from which the person had not been discharged; or
(ii) the person had, under a law of an external Territory or of a foreign country, the status of an undischarged bankrupt; or
(iii) the person's property was subject to control under Division 2 of Part X of the Bankruptcy Act 1966 because of an authority given by the person under section 188 of that Act; or
(iv) a deed of assignment, deed of arrangement, or composition, under Part X of the Bankruptcy Act 1966 or under the corresponding provisions of the law of an external Territory or of a foreign country was in effect in relation to the person or the person's property; and

(c)  without limiting the generality of paragraph (b), any conduct of the trustee of such a bankrupt estate or of such a deed of assignment or arrangement, a person acting under such an authority or a person administering such a composition; and

(d)  matters concerned with ascertaining the corporations with which the person is or has been connected.

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