25Carrying on motor dealing after licensed motor vehicle trader dies or becomes represented person

25 Carrying on motor dealing after licensed motor vehicle trader dies or becomes represented person

(1)  In this section –

prescribed administrator, in relation to a represented person who is an externally-administered body corporate within the meaning of the Corporations Act, means the liquidator, administrator, receiver, receiver and manager or person administering a compromise or arrangement approved under Part 5.1 of the Corporations Act;

relevant motor vehicle trader licence means the motor vehicle trader licence held by a licensed motor vehicle trader who dies or becomes a represented person;

represented person means a person who –

(a) is a represented person within the meaning of the Guardianship and Administration Act 1995 ; or

(b) is the subject of an order or other determination made under the law of another jurisdiction in Australia or elsewhere that is similar in effect to an order under section 20 , 51 or 65 of the Guardianship and Administration Act 1995 ; or

(c) is bankrupt, has applied to take the benefit of any law for the relief of bankrupt or insolvent debtors, has compounded with creditors or made an assignment of remuneration or estate for the benefit of creditors; or

(d) is an externally administered body corporate within the meaning of the Corporations Act.

(2)  [Section 25 Subsection (2) amended by No. 29 of 2022, s. 35, Applied:14 Dec 2022] Subject to subsections (8) and (9) , for 30 days after a licensed motor vehicle trader dies or becomes a represented person, or such longer period as the Director determines under subsection (3) , the following persons may carry on the business of dealing in motor vehicles which had been carried on under the relevant motor vehicle trader licence: