50Payment by trustees of deducted amounts

#### 50 Payment by trustees of deducted amounts (1) Where: (a) an amount is payable to the Registrar by an employer under subsection 47(1) (including that subsection as varied under subsection 47(4)); and (b) the property of the employer has become vested in, or the control of the property of the employer has passed to, a trustee; the trustee is liable to pay the amount to the Registrar. (2) Notwithstanding any other law of the Commonwealth or any law of a State or Territory: (a) an amount payable to the Registrar by a trustee under subsection (1) has priority over all other debts (other than amounts payable under former subsection 221YHZD(3) of the Income Tax Assessment Act 1936), whether preferential, secured or unsecured; (b) where an amount is payable by a trustee to the Registrar under former subsection 221YHZD(3) of the Income Tax Assessment Act 1936, an amount payable by the trustee under subsection (1) of this section ranks equally with the amount payable under whichever of those subsections is applicable in priority to all other debts, whether preferential, secured or unsecured. > Note: The subsection of the Income Tax Assessment Act 1936 referred to in paragraphs (a) and (b) do not apply to liabilities arising after 30 June 1993. (3) Where a trustee, being a trustee of an estate of a bankrupt or a liquidator of a company that is being wound up, is liable to pay an amount to the Registrar under subsection (1), subsection (2) does not have the effect that the amount is payable in priority to any costs, charges or expenses of the administration of the estate or of the winding up of the company (including costs of a creditor or other person on whose petition the sequestration order or the winding up order (if any) was made and the remuneration of the trustee) that are lawfully payable out of the assets of the estate or of the company except where, in the case of the winding up of a company, the Crown in right of a State or of the Northern Territory or any other creditor is entitled to payment of a debt by the liquidator, in priority to all or any of those costs, charges and expenses and has not waived that priority.