Financial Intermediaries Act 1996
sec.5Meaning of officer
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sec.5 Meaning of officer
For this Act, officer of a society includes— a director, secretary, executive officer or employee of the society; and a receiver and manager, appointed under a power contained in an instrument, of property of the society; and a liquidator of the society appointed in a voluntary winding–up of the society; and a trustee or other person administering a compromise or arrangement made between the society and other persons. However, none of the following is an officer of the society— a receiver who is not also a manager; a receiver and manager appointed by a court; a liquidator appointed by a court. (sec.5-ssec.1) For this Act, officer of a society includes— a director, secretary, executive officer or employee of the society; and a receiver and manager, appointed under a power contained in an instrument, of property of the society; and a liquidator of the society appointed in a voluntary winding–up of the society; and a trustee or other person administering a compromise or arrangement made between the society and other persons. (sec.5-ssec.2) However, none of the following is an officer of the society— a receiver who is not also a manager; a receiver and manager appointed by a court; a liquidator appointed by a court.
- (a) a director, secretary, executive officer or employee of the society; and
- (b) a receiver and manager, appointed under a power contained in an instrument, of property of the society; and
- (c) a liquidator of the society appointed in a voluntary winding–up of the society; and
- (d) a trustee or other person administering a compromise or arrangement made between the society and other persons.
- (a) a receiver who is not also a manager;
- (b) a receiver and manager appointed by a court;
- (c) a liquidator appointed by a court.