382Application of Corporations Act—administration of co-operative

382 Application of Corporations Act—administration of co-operative

382 Application of Corporations Act—administration of co-operative

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 5.3A and Division 3 of Part 5.9 of the Corporations Act, subject to the following modifications—

(a) a reference in the provisions to sections 128 and 129 of the Corporations Act is to be read as a reference to Division 3 of Part 2.2 of this Law;

(b) a reference in section 436D of the Corporations Act to “section 436A, 436B or 436C” is to be read as including a reference to section 385 of this Law;

(c) a reference in section 436E (4) (a) or 448B of the Corporations Act to an administrator is to be read as not including a reference to an administrator appointed under section 385 of this Law;

(d) a reference in section 440D (2) (b) of the Corporations Act to prescribed proceedings is to be read as a reference to proceedings prescribed by the local regulations;

(e) section 444GA of the Corporations Act is taken to include a provision to the effect that the section has effect subject to Divisions 7 and 8 of Part 2.4 of this Law;

(f) section 446B of the Corporations Act is taken to be omitted;

(g) the reference in section 600H (2) of the Corporations Act to “a compromise or arrangement under part 5.1” is to be read as a reference to a compromise or arrangement under Part 4.4 of this Law;

(h) the modifications referred to in section 13 (3) of this Law so far as they are relevant.

Note—

See section 13, including Note 1 to that section.