Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
View history note
Hide history noteA deed of company arrangement must contain a provision to the effect that the administrator of the deed must determine that the whole of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge:
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to the whole of the first-mentioned debt. 444DB(2) [ Where whole of debt not admissible]
If the administrator of a deed of company arrangement determines, under a provision covered by subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.
444DB(3) Part of superannuation contribution debt.A deed of company arrangement must contain a provision to the effect that the administrator of the deed must determine that a particular part of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge:
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to that part of the first-mentioned debt. 444DB(4) [ Where part of debt not admissible]
If the administrator of a deed of company arrangement determines, under a provision covered by subsection (3), that a part of a debt is not admissible to proof against the company, that part of the debt is extinguished.
444DB(5) Definition.In this section:
superannuation contribution
has the same meaning as in section
556
.
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