126Definitions

126 Definitions

126 Definitions

In this Division—

administration means an administration under this Division.

administrator means an administrator of the affairs and property of a person holding office under this Division.

affairs of a person means the person’s affairs relating to the carrying on of a business authorised to be carried on by a licence or a former licence held by the person.

person subject to administration means a person for whose affairs and property an administrator is appointed under this Division.

property of a person means the following—

(a) property held by the person, or by an employee or agent of the person, in the course of or in connection with a business the subject of an administration, whether or not the property is held on behalf of another person,

(b) property that would, but for the appointment of an administrator, be receivable by the person after the appointment whether on behalf of the person or another person,

(c) interest, dividends or other income received by the administrator and arising from property held by the administrator as administrator,

(d) records kept by or on behalf of the person in connection with a business the subject of an administration.