109Incorporated legal practice that is subject to receivership under this Law and external administration under Corporations Act

109 Incorporated legal practice that is subject to receivership under this Law and external administration under Corporations Act

109 Incorporated legal practice that is subject to receivership under this Law and external administration under Corporations Act

(1) This section applies if an incorporated legal practice is the subject of both—

(a) the appointment of a Uniform Law receiver; and

(b) the appointment of a Corporations Act administrator.

(2) The Uniform Law receiver is under a duty to notify the Corporations Act administrator of the appointment of the Uniform Law receiver, whether the appointment precedes, follows or is contemporaneous with the appointment of the Corporations Act administrator.

(3) The Uniform Law receiver or the Corporations Act administrator (or both of them jointly) may apply to the Supreme Court for the resolution of issues arising from or in connection with the dual appointments and their respective powers, except where proceedings referred to in section 111 have been commenced.

(4) The Supreme Court may make any orders it considers appropriate, and no liability attaches to the Uniform Law receiver or the Corporations Act administrator for any act or omission done by the receiver or administrator in good faith for the purpose of carrying out or acting in accordance with the orders.

(5) 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.

(6) The provisions of subsections (3) and (4) 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.

(7) In this section—

Corporations Act administrator means—

(a) a receiver, receiver and manager, liquidator (including a provisional liquidator), controller, administrator or deed administrator appointed under the Corporations Act; or

(b) a person who is appointed to exercise powers under that Act and who is specified, or of a class specified, in the Uniform Rules for the purposes of this definition;

Uniform Law receiver means a receiver appointed under Part 6.5.