External administration proceedings under Corporations Act 2001
24 External administration proceedings under Corporations Act 2001
This clause applies to proceedings in any court under Chapter 5 (External administration) of the Corporations Act 2001 of the
Commonwealth—
relating to a corporation that is an externally‑administered body corporate under that Act; or
relating to a corporation becoming an externally‑administered body corporate under that Act, being a corporation that is or was an incorporated legal practice.
The Regulator, the Attorney‑General and the Society are entitled to intervene in the proceedings, unless the court determines that the proceedings do not concern or affect the provision of legal services by the incorporated legal practice.
The court may, when exercising its jurisdiction in the proceedings, have regard to the interests of the clients of the incorporated legal practice who have been or are to be provided with legal services by the practice.
Subclause (3) does not authorise the court to make any decision that is contrary to a specific provision of the
Corporations Act 2001 of the Commonwealth.
The provisions of subclauses (2) and
are declared to be Corporations legislation displacement provisions for the purposes of section 5G of the
Corporations Act 2001 of the Commonwealth in relation to the provisions of Chapter 5 of that Act.
[Note: Note
Section 5G of the Corporations Act 2001 of the Commonwealth provides that if a State law declares a provision of a State law to be a
Corporations legislation displacement provision, any provision of the
Corporations legislation with which the State provision would otherwise be inconsistent does not apply to the extent necessary to avoid the inconsistency.]
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