56
CurrentExpenses of administration
Part 4Other functions and powers of registrar
Division 2Specific powers
Subdivision 5Administrators
56 Expenses of administration
(1)
The expenses of conducting a society’s affairs by an administrator are payable from the society’s funds.
(2)
The expenses include the administrator’s remuneration at a rate approved by the registrar.
(3)
An administrator has, for the expenses of conducting a society’s affairs, the same priority on the winding-up of a society as the liquidator of the society has.
This Act’s bill:Explanatory memorandum
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