sec.6Administrators etc.

sec.6 Administrators etc.

This section applies to the following persons (each an appointee )— a person appointed under the Corporations Act as an administrator of a corporation that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed under the Corporations Act as an administrator of a deed of company arrangement for a corporation that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed under the Corporations Act as a liquidator, or controller of property, of a corporation that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed under the Administration Act as a receiver in relation to a person that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed as the trustee in bankruptcy for an individual who is or was authorised under a relevant authorisation to perform a regulated activity; an Official Receiver under the Bankruptcy Act 1966 (Cwlth) exercising powers or performing functions under that Act in relation to an individual who is or was authorised under a relevant authorisation to perform a regulated activity. The appointee is exempt from the prescribed provisions while performing the regulated activity in relation to any business that is or was authorised to be carried on under the relevant authorisation, in accordance with— if the relevant authorisation is in force—any conditions applying to the authorisation; or if the relevant authorisation is not in force—any conditions applying to the authorisation when it stopped being in force. However, if the appointee is appointed for a corporation that is or was authorised under a licence to perform a regulated activity, the appointee may only perform the activity if— if there is a field agent in charge of the corporation’s regulated business—the activity may be performed by the agent; or if there is not a field agent in charge of the corporation’s regulated business—the activity may have been performed by the last field agent in charge of the corporation’s regulated business. In this section— person appointed as the trustee in bankruptcy , for an individual, means— the Official Trustee under the Bankruptcy Act 1966 (Cwlth) if the Official Trustee is the trustee of the estate of the individual; or a person appointed under the Bankruptcy Act 1966 (Cwlth) as the trustee of the estate of the individual. prescribed provisions means sections 21 , 23 , 25 , 28 and 30 . relevant authorisation means either of the following— a licence; an authorisation under part 2 , division 3 . (sec.6-ssec.1) This section applies to the following persons (each an appointee )— a person appointed under the Corporations Act as an administrator of a corporation that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed under the Corporations Act as an administrator of a deed of company arrangement for a corporation that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed under the Corporations Act as a liquidator, or controller of property, of a corporation that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed under the Administration Act as a receiver in relation to a person that is or was authorised under a relevant authorisation to perform a regulated activity; a person appointed as the trustee in bankruptcy for an individual who is or was authorised under a relevant authorisation to perform a regulated activity; an Official Receiver under the Bankruptcy Act 1966 (Cwlth) exercising powers or performing functions under that Act in relation to an individual who is or was authorised under a relevant authorisation to perform a regulated activity. (sec.6-ssec.2) The appointee is exempt from the prescribed provisions while performing the regulated activity in relation to any business that is or was authorised to be carried on under the relevant authorisation, in accordance with— if the relevant authorisation is in force—any conditions applying to the authorisation; or if the relevant authorisation is not in force—any conditions applying to the authorisation when it stopped being in force. (sec.6-ssec.3) However, if the appointee is appointed for a corporation that is or was authorised under a licence to perform a regulated activity, the appointee may only perform the activity if— if there is a field agent in charge of the corporation’s regulated business—the activity may be performed by the agent; or if there is not a field agent in charge of the corporation’s regulated business—the activity may have been performed by the last field agent in charge of the corporation’s regulated business. (sec.6-ssec.4) In this section— person appointed as the trustee in bankruptcy , for an individual, means— the Official Trustee under the Bankruptcy Act 1966 (Cwlth) if the Official Trustee is the trustee of the estate of the individual; or a person appointed under the Bankruptcy Act 1966 (Cwlth) as the trustee of the estate of the individual. prescribed provisions means sections 21 , 23 , 25 , 28 and 30 . relevant authorisation means either of the following— a licence; an authorisation under part 2 , division 3 .