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 5.8A - EMPLOYEE ENTITLEMENTS

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SECTION 596AB ENTERING INTO AGREEMENTS OR TRANSACTIONS TO AVOID EMPLOYEE ENTITLEMENTS

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596AB(1) [Person not to enter agreement]

A person must not enter into a relevant agreement or a transaction with the intention of, or with intentions that include the intention of:

(a) preventing the recovery of the entitlements of employees of a company; or

(b) significantly reducing the amount of the entitlements of employees of a company that can be recovered.

596AB(2) [Company not party or court approval]

Subsection (1) applies even if:

(a) the company is not a party to the agreement or transaction; or

(b) the agreement or transaction is approved by a court.

596AB(3) [``relevant agreement'']

A reference in this section to a relevant agreement or a transaction includes a reference to:

(a) a relevant agreement and a transaction; and

(b) a series or combination of:

(i) relevant agreements or transactions; or

(ii) relevant agreements; or

(iii) transactions.

596AB(4) [Contravention]

If a person contravenes this section by incurring a debt (within the meaning of section 588G), the incurring of the debt and the contravention are linked for the purposes of this Law.

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