110Costs of statutory management

110 Costs of statutory management

(1) The Reserve Bank’s costs (including costs in the nature of remuneration and expenses) of:

(a) being in control of a body corporate’s business as statutory manager; or

(b) having a statutory manager in control of a body corporate’s business;

are payable from the body corporate’s funds and are a debt due to the Reserve Bank.

(2) Despite anything contained in this Act, the Corporations Act 2001 or any other law relating to the winding up of companies, debts due to the Reserve Bank by a body corporate under subsection (1) have priority in a winding‑up of the body corporate over all other unsecured debts.