90
CurrentEffect of appointment on receivers and administrators
90 Effect of appointment on receivers and administrators
(1)
This item applies if:
(a)
a transitional corporation is taken, under subitem 89(2), to be under special administration because the ACA Registrar had, before commencement, appointed a person as an Administrator for the transitional corporation under subsection 71(2) of the old Act; and
(b)
the ACA Registrar had, before commencement, published notice of the appointment and the period of the appointment under section 72 of the old Act.
(2)
Subsections 496‑10(7) and 496‑15(7) of the new Act do not apply in relation to the special administration of the transitional corporation.
This Act’s bill:Explanatory memorandumSecond reading speech
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