Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 11 - EXTERNAL ADMINISTRATION  

PART 11-2 - SPECIAL ADMINISTRATION  

Division 496 - Effect of appointment of special administrator on officers of the corporation  

SECTION 496-5   REGISTRAR MAY DETERMINE THAT OFFICES NOT VACATED IN CERTAIN CIRCUMSTANCES  

496-5(1)    
The Registrar:

(a)    may determine that the offices of the corporation ' s directors are not vacated on the appointment of a special administrator; and

(b)    may determine that the office of the corporation ' s secretary is not vacated, or the offices of each of the corporation ' s secretaries are not vacated, on the appointment of the special administrator.

496-5(2)    
A determination under subsection (1) is not a legislative instrument.

496-5(3)    
The Registrar may make a determination under subsection (1) only if the Registrar is satisfied that making the determination is in the best interests of the corporation.

496-5(4)    
A determination under subsection (1) must be included in the special administrator ' s appointment.


 

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