62ZOZ
In forceCosts of statutory management
Part VBJudicial management, statutory management, other external administration and winding up
Division 1AStatutory management of general insurers
Subdivision BProvisions dealing with control of a body corporate’s business by an Insurance Act statutory manager
62ZOZ Costs of statutory management
(1)
APRA’s costs (including costs in the nature of remuneration and expenses) of being in control of a body corporate’s business, or of having an administrator in control of a body corporate’s business, are payable from the body corporate’s funds and are a debt due to APRA.
(2)
Despite anything contained in any law relating to the winding‑up of companies, debts due to APRA by a body corporate under subsection (1) have priority in a winding‑up of the body corporate over all other unsecured debts.
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