Legal Profession Uniform Law (NSW)
108External administration proceedings under Corporations Act or other legislation
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108 External administration proceedings under Corporations Act or other legislation
108 External administration proceedings under Corporations Act or other legislation
(1) This section applies to—
(a) proceedings in any court under Chapter 5 of the Corporations Act relating to a corporation that is or was an incorporated legal practice and that is or was in the process of becoming an externally-administered corporation under that Act; and
(b) proceedings in any court under other legislation for the external administration (however expressed) of an incorporated legal practice.
(2) The designated local regulatory authority is entitled to intervene in the proceedings, unless the court determines that the proceedings do not concern or affect the provision of legal services by the incorporated legal practice.
(3) The court may, when exercising its jurisdiction in the proceedings, have regard to the interests of the clients of the incorporated legal practice who have been or are to be provided with legal services by the law practice.
(4) Subsection (3) does not authorise the court to make any decision that is contrary to a specific provision of—
(a) in relation to proceedings referred to in subsection (1)(a)—the Corporations Act; or
(b) in relation to proceedings referred to in subsection (1)(b)—any legislation applicable to the incorporated legal practice.
(5) The provisions of subsections (2) and (3) are declared to be Corporations legislation displacement provisions for the purposes of section 5G of the Corporations Act in relation to the provisions of Chapter 5 of that Act.
Note
Section 5G of the Corporations Act provides that, if a State or Territory law declares a provision of a State or Territory law to be a Corporations legislation displacement provision, any provision of the Corporations legislation with which the State or Territory provision would otherwise be inconsistent does not apply to the extent necessary to avoid the inconsistency.