392Administrator to report to Registrar

392 Administrator to report to Registrar

On receipt of a request from the Registrar, the administrator of a co-operative must, without delay, prepare and give to the Registrar a report showing how the administration is being carried out.

Part 4.2 Receivers and other controllers of property

393 Application of Corporations Act—receivers and other controllers of property of co-operatives

A co-operative is declared to be an applied Corporations legislation matter for the purposes of the Corporations application legislation of this jurisdiction in relation to Part 5.2 of the Corporations Act, subject to the following modifications:

(a) section 416 of the applied provisions is to be read as including the following definitions:

administrator means an administrator of a deed of arrangement appointed under Part 5.3A of the Corporations Act, as applying under section 382 of the Co-operatives National Law.

senior manager:

(a) of a co-operative—means a person referred to in paragraph (b) of the definition of officer in section 4 of the Co-operatives National Law; or

(b) of a corporation other than a co-operative—means a senior manager within the meaning of the Corporations Act.

(b) section 416 of the applied provisions is to be read as if the following definition were substituted for the definition of officer:

officer of a co-operative has the meaning given by section 4 of the Co-operatives National Law and, in relation to a participating co-operative, includes a local agent of the participating co-operative.

(c) section 417 of the applied provisions is taken to be omitted and the following section substituted: