sec.62Settlement of disputes between corporations and contributors etc.

sec.62 Settlement of disputes between corporations and contributors etc.

If any dispute arises between a registered corporation and— any contributor to the registered corporation or his or her legal personal representative; or any person aggrieved who has ceased to be a contributor or his or her legal personal representative; in respect of any claim made by the contributor, person aggrieved or legal personal representative, the registrar may settle such dispute and make such award as the registrar thinks proper, and such award shall be final and conclusive and binding upon the parties to the dispute. An award may be enforced as if it were an arbitral award under the Commercial Arbitration Act 2013 . Where an award made by the registrar pursuant to this section contains a requirement to be complied with by the registered corporation, the registered corporation shall comply with such requirement within 14 days from the making of the award or within such longer period as is stipulated by the registrar in the award (the registrar being hereby thereunto authorised). Maximum penalty—6 penalty units. The liability of the registered corporation to penalty under subsection (3) does not affect its liability in any other respect. s 62 amd 1993 No. 82 s 3 sch 1 ; 2013 No. 8 s 43 sch 1 pt 2 (sec.62-ssec.1) If any dispute arises between a registered corporation and— any contributor to the registered corporation or his or her legal personal representative; or any person aggrieved who has ceased to be a contributor or his or her legal personal representative; in respect of any claim made by the contributor, person aggrieved or legal personal representative, the registrar may settle such dispute and make such award as the registrar thinks proper, and such award shall be final and conclusive and binding upon the parties to the dispute. (sec.62-ssec.2) An award may be enforced as if it were an arbitral award under the Commercial Arbitration Act 2013 . (sec.62-ssec.3) Where an award made by the registrar pursuant to this section contains a requirement to be complied with by the registered corporation, the registered corporation shall comply with such requirement within 14 days from the making of the award or within such longer period as is stipulated by the registrar in the award (the registrar being hereby thereunto authorised). Maximum penalty—6 penalty units. (sec.62-ssec.4) The liability of the registered corporation to penalty under subsection (3) does not affect its liability in any other respect.

• (a) any contributor to the registered corporation or his or her legal personal representative; or
• (b) any person aggrieved who has ceased to be a contributor or his or her legal personal representative;