Sch 1Section 123

SCHEDULE 1 Section 123 AMENDMENTS OF THE CORPORATIONS LAW CONSEQUENT ON PART 4 OF THIS ACT Paragraph 67(4)(e): “(e) as an administrator of a body corporate; or (ea) as an administrator of a deed of company arrangement executed by a body corporate;”. Paragraph 68(2)(f): “(f) as an administrator of a body corporate; or (fa) as an administrator of a deed of company arrangement executed by a body corporate; or”. Paragraph 206QB(3)(d): “(d) an administrator of the company is appointed under section 436A, 436B or 436C”. Paragraph 206QC(1)(a): “(a) on a particular day: (i) a court orders that a company be wound up; or (ii) a company resolves that it be wound up; or (iii) a company is placed under official management; or (iv) an administrator of a company is appointed under section 436A, 436B or 436C; and”. Subparagraphs 206QC(1)(b)(i) and (ii): Omit the subparagraphs, substitute: “(i) if subparagraph (a)(i) or (ii) applies—the day when the winding up is taken to have begun; or (ia) if subparagraph (a)(iii) applies—the day when the official management began; or (ib) if subparagraph (a)(iv) applies—the section 513C day in relation to the administration; or (ii) if the company was insolvent throughout a period ending immediately before the day referred to in subparagraph (i), (ia) or (ib), as the case requires—the day when the company last ceased, before the day so referred to, to be solvent;”. Paragraph 206QC(1)(c): Omit “that”, substitute “those”. Paragraph 206RB(1)(c): “(c) the company is under administration; or (ca) a deed of company arrangement executed by the company has not yet terminated; or”. Subsection 206RC(3): Omit “section 553 or 554”, substitute “Subdivision A, B or C of Division 6 of Part 5.6”. Subsection 230(6) (paragraph (a) of the definition of “prescribed person”): “(a) a liquidator or provisional liquidator of the body corporate; (u) an administrator of the body corporate; (v) an administrator of a deed of company arrangement executed by the body corporate;”. Subsection 241(4) (paragraph (c) of the definition of “officer”): “(c) an administrator of the company; (ca) an administrator of a deed of company arrangement executed by the company;”. Paragraphs 266(1)(b) and (3)(b): Omit the paragraphs, substitute in each case: “(b) an administrator of a company is appointed under section 436A, 436B or 436C; or (ba) a company executes a deed of company arrangement;”. Subsection 266(1): Omit “or official manager,”, substitute “, the administrator of the company, or the deed’s administrator,”. Subparagraphs 266(1)(c)(ii) and (3)(c)(ii): Omit “commencement of the winding up or the appointment of the official manager, as the case may be;”, substitute “critical day;”. Paragraphs 266(1)(d), (e) and (f): Omit “commencement of the winding up or at the time of the appointment referred to in paragraph (b)”, substitute “start of the critical day”. Paragraph 266(3)(d): Omit “commencement of the winding up or at the time of the appointment of the official manager”, substitute “start of the critical day”. Subsection 266(5): Omit “official manager of the company, notwithstanding that”, substitute “administrator of the company, or an administrator of a deed of company arrangement executed by the company, even if ”. Paragraph 266(6)(a): Paragraph 266(6)(c): “(c) an administrator of the company being appointed under section 436A, 436B or 436C; or (d) the company executing a deed of company arrangement.”. Subsection 266(7): Omit “and (c)”, substitute “, (c) and (d)”. Section 266: Add at the end: “(8) In this section: ‘critical day’, in relation to a company, means: (a) if the company is being wound up—the day when the winding up began; or (b) if the company is under administration—the section 513C day in relation to the administration; or (c) if the company has executed a deed of company arrangement— the section 513C day in relation to the administration that ended when the deed was executed.”. Subsections 493(1) and (2): Omit “commencement of the winding up”, substitute “passing of the resolution”. Subsection 500(1): Omit “a company after the commencement of a creditors’ voluntary winding up”, substitute “the company after the passing of the resolution for voluntary winding up”. Subsection 500(2): Omit “commencement of a creditors’ voluntary winding up of a company,”, substitute “passing of the resolution for voluntary winding up,”. Paragraph 585(a): Omit “$1000”, substitute “the statutory minimum”. Paragraph 599(1)(c): “(c) that has been or is under administration; (ca) that has executed a deed of company arrangement, even if the deed has terminated;”. Paragraph 599(3)(c): Omit “official management,”, substitute “administration, having executed a deed of company arrangement,”. Section 603 (paragraph (k) of the definition of “prescribed occurrence”): “(k) an administrator of the target company, or of a subsidiary, being appointed under section 436A, 436B or 436C; (l) the target company or a subsidiary executing a deed of company arrangement; or”. Paragraphs 647(2)(b) and 683(2)(b): Omit the paragraphs, substitute in each case: “(b) if the company is being wound up or is under administration— be signed by the liquidator or administrator, as the case may be; or (c) if the company has executed a deed of company arrangement that has not yet terminated—be signed by the deed’s administrator.”. Paragraph 684(4)(a): “(a) an administrator of that body corporate, or, if there are 2 or more bodies corporate, of either or any of them, is appointed under section 436A, 436B or 436C;”. Subsection 684(4): Omit “body corporate was placed under official management,”, substitute “administrator was so appointed,”. Section 750 (paragraph (1)(a) in Part B and paragraph (1)(a) in Part D): Omit everything before subparagraph (i), substitute: “(a) unless paragraph (b) applies—in relation to each director of the target company:”. Section 750 (paragraph (1)(b) in Part B): “(b) if the target company is being wound up, is under administration, or has executed a deed of company arrangement that has not yet terminated—in relation to each liquidator, each administrator of the company, or each administrator of the deed, as the case may be: (i) if he or she wants to make, and thinks himself or herself justified in making, a recommendation in relation to the offers—whether he or she recommends the acceptance of offers made or to be made by the offerer or recommends against acceptance, and why he or she so recommends; or (ii) otherwise—that he or she does not want to make, or does not think himself or herself justified in making, a recommendation, and why not.”. Section 750 (paragraph (13)(b) in Part B): “(b) in the case of a Part B statement that is signed as mentioned in paragraph 647(2)(b) or (c)—any liquidator or administrator of the company, or any administrator of the deed of company arrangement, as the case may be;”. Section 750 (paragraph (1)(b) in Part D): “(b) if the target company is being wound up, is under administration, or has executed a deed of company arrangement that has not yet terminated—in relation to each liquidator, each administrator of the company, or each administrator of the deed, as the case may be: (i) if he or she wants to make, and thinks himself or herself justified in making, a recommendation in relation to the offers—whether he or she recommends the acceptance of offers under the takeover announcement or recommends against acceptance, and why he or she so recommends; or (ii) otherwise—that he or she does not want to make, or does not think himself or herself justified in making, a recommendation, and why not.”. Section 750 (paragraph (12)(b) in Part D): “(b) in the case of a Part D statement that is signed as mentioned in paragraph 683(2)(b) or (c)—any liquidator or administrator of the company, or any administrator of the deed of company arrangement, as the case may be;”. Before paragraph 922(1)(a): “(aa) an administrator of the body corporate is appointed under section 436A, 436B or 436C;”. Paragraph 922(1)(a): Omit “, comes under official management”. Paragraph 922(1)(c): After “creditors” insert “or a class of them”. Paragraph 1058(11)(a): “(a) it is under administration or being wound up; or”. Paragraph 1252(2)(c): “(c) an administrator of the body corporate; (ca) an administrator of a deed of company arrangement executed by the body corporate;”. Subparagraph 1274(2)(a)(iv): After “422,” insert “438D,”. Paragraph 1317C(f): “(f) a decision to apply under section 596A or 596B for the Court to summon a person for examination about a corporation’s examinable affairs; or (g) a decision to apply under section 597A for the Court to require a person to file an affidavit about a corporation’s examinable affairs.”. Paragraph 1318(5)(c): “(c) an administrator of the corporation; (ca) an administrator of a deed of company arrangement executed by the corporation;”. Paragraph 1321(c): “(c) an administrator of a company; (ca) an administrator of a deed of company arrangement executed by a company; or”. SCHEDULE 2 Section 125 AMENDMENTS OF ACTS CONSEQUENT ON PART 4 OF THIS ACT Australian Meat and Live-stock Corporation Act 1977 Subparagraphs 16F(c)(i), (ii) and (iii): Subparagraph 16F(c)(v): Omit the subparagraph, substitute: “(v) an administrator of the holder of the licence is appointed under section 436A, 436B or 436C of the Corporations Law; or (vi) the holder of the licence executes a deed of company arrangement under Part 5.3A of that Law;”. Bankruptcy Act 1966 Subsection 5(1) (definition of “company officer”): After paragraph (b) insert: “(ba) an administrator, within the meaning of the Corporations Law, of the corporation; (bb) an administrator of a deed of company arrangement executed by the corporation under Part 5.3A of that Law;”. After subparagraph 5G(c)(i): “(ia) the company is under administration within the meaning of the Corporations Law; (ib) a deed of company arrangement that the company executed under Part 5.3A of that Law has not yet terminated;”. Paragraph 5G(c): After “receiver and manager,” insert “of an administrator (within the meaning of that Law) of the company, of an administrator of such a deed,”. Child Support (Registration and Collection) Act 1988 Subsection 4(1) (paragraphs (a), (b), (c) and (d) of the definition of “trustee”): Subsection 4(1) (definition of “trustee”): (eb) an administrator of a deed of company arrangement executed by a company under Part 5.3A of that Law; or”. Customs Act 1901 After paragraph 81(3)(c): “(ca) whether the company is under administration within the meaning of the Corporations Law; (cb) whether the company has executed under Part 5.3A of that Law a deed of company arrangement that has not yet terminated;”. Paragraph 82(1)(ba): “(ba) in the case of a licence held by a company—any of the following events occurs: (i) the company is convicted of an offence of a kind referred to in paragraph 81 (3)(a) or (b); (ii) a receiver of the property, or part of the property, of the company is appointed; (iii) an administrator of the company is appointed under section 436A, 436B or 436C of the Corporations Law; (iv) the company executes a deed of company arrangement under Part 5.3A of that Law; (v) the company begins to be wound up;”. After paragraph 183CC(4A)(c): “(ca) whether the company is under administration within the meaning of the Corporations Law; (cb) whether the company has executed under Part 5.3A of that Law a deed of company arrangement that has not yet terminated;”. Paragraph 183CG(1)(c): “(c) in the case of a licence held by a company: (i) a receiver of the property, or part of the property, of the company is appointed; or (ii) an administrator of the company is appointed under section 436A, 436B or 436C of the Corporations Law; or (iii) the company executes a deed of company arrangement under Part 5.3A of that Law; or (iv) the company begins to be wound up;”. Fringe Benefits Tax Assessment Act 1986 Subsection 136(1) (paragraphs (a), (b), (c) and (d) of the definition of “trustee”): Subsection 136(1) (definition of “trustee”): Insurance Act 1973 Subsection 50(1) (definition of “prescribed person”): Omit everything after paragraph (d), substitute: ‘but does not include: (e) a receiver, or a receiver and manager, of property of the body; or (f) an administrator, within the meaning of the Corporations Law, of the body; or (g) an administrator of a deed of company arrangement executed by the body under Part 5.3A of that Law; or (h) an official manager or deputy official manager of the body; or (i) a liquidator or provisional liquidator of the body.”. Insurance (Agents and Brokers) Act 1984 Section 9 (definition of “insolvent company under administration”): Omit the definition, substitute: “ ‘insolvent company under administration’ means a company: (a) that has entered into a compromise or arrangement with its creditors, or a class of them, the administration of which has not ended; or (b) in respect of property of which a receiver, or a receiver and manager, has been appointed (whether or not by a court) and is acting; or (c) that is under administration within the meaning of the Corporations Law; or (d) that has executed under Part 5.3A of that Law a deed of company arrangement that has not yet terminated; or (e) that is under official management; or (f) that is being wound up; or (g) in respect of which a provisional liquidator has been appointed and not since removed;”. Overseas Students (Refunds) Act 1990 After subparagraph 5(4)(a)(ii): “(iii) an administrator, within the meaning of the Corporations Law, of the institution; and (iv) an administrator of a deed of company arrangement executed by the institution under Part 5.3A of that Law; and”. After sub-subparagraph 5(4)(b)(ii)(B): “; or (C) an administrator, within the meaning of the Corporations Law, of that person; or (D) an administrator of a deed of company arrangement executed by that person under Part 5.3A of that Law.”. Petroleum Resource Rent Tax Assessment Act 1987 Section 2 (paragraphs (a), (b), (c) and (d) of the definition of “trustee”): Section 2 (definition of “trustee”): Sales Tax Assessment Act 1992 Section 5 (definition of “trustee”): “(ea) an administrator, within the meaning of the Corporations Law, of a company; Taxation Administration Act 1953 After paragraph 8Y(4)(b): “(ba) an administrator, within the meaning of the Corporations Law, of the corporation; (bb) an administrator of a deed of company arrangement executed by the corporation under Part 5.3A of that Law;”. Training Guarantee (Administration) Act 1990 Section 4 (definition of “trustee”): “(ea) an administrator, within the meaning of the Corporations Law, of a company; and (eb) an administrator of a deed of company arrangement executed by a company under Part 5.3A of that Law; and”. NOTES 1. No. 109, 1989, as amended. For previous amendments, see No. 110, 1990; Nos.110, 200 and 201, 1991; and No. 27, 1992. 2. No. 90, 1989, as amended. For previous amendments, see Nos. 41 and 110, 1990; Nos. 110, 122 and 188, 1991; and No. 27, 1992. 3. No. 33, 1966, as amended. For previous amendments, see No. 121, 1968; No. 40, 1969; No. 122, 1970; No. 216, 1973; No. 56, 1975; Nos. 37, 91 and 161, 1976; No. 111, 1977, No. 155, 1979; Nos. 12 and 70, 1980; Nos. 74 and 176, 1981; No. 18, 1983; Nos. 10 and 63, 1984; Nos. 21 and 193, 1985; Nos. 154 and 168, 1986; Nos. 73 and 119, 1987; Nos. 8, 38 and 99, 1988; No. 129, 1989; No. 115, 1990; and No. 9, 1992. NOTES ABOUT SECTION HEADINGS 1. On the commencement of section 37 of this Act, the heading to section 419 of the Corporations Law set out in section 82 of the Corporations Act 1989 is altered by omitting “receiver” and substituting “controller”. 2. On the commencement of section 123 of this Act, the heading to section 266 of the Corporations Law set out in section 82 of the Corporations Act 1989 is altered by omitting “official manager” and substituting “administrator”. 3. On the commencement of section 169 of this Act, the heading to section 1112 of the Corporations Law set out in section 82 of the Corporations Act 1989 is omitted and the following heading is substituted: “Offences: stamping of broker’s stamp on sufficient transfer”. \[Minister’s second reading speech made in— House of Representatives on 3 November 1992 Senate on 12 November 1992\]