Appointment of administrator under Part 5.3A of the Corporations Act
95 Appointment of administrator under Part 5.3A of the Corporations Act
This item applies if, before commencement:
an administrator of a transitional corporation had been appointed under Part 5.3A of the Corporations Act (as applied by section 62 of the old Act); and
the administration had not been completed.
The administration may be continued and completed as if the administrator had been appointed under Part 5.3A of the Corporations Act (as applied by section 521‑1 of the new Act).
Without limiting paragraph 521‑1(2)(b) of the new Act, regulations made under the new Act for the purposes of that paragraph may modify the operation of the Corporations Act administration provisions in relation to a transitional corporation to which this item applies.
Division 8-Windings up
This Act’s bill:Explanatory memorandumSecond reading speech
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