sec.55Restriction—corporations

### sec.55 Restriction—corporations A corporation that holds a licence may perform an activity under its licence only if the activity may be performed by— a licensed person who is in charge of the corporation’s business; or a person permitted under section 84 (2) (b) (ii) (B) to be in charge of a particular place, if the activity is performed at that place; or a liquidator or controller appointed under the Corporations Act of property of the corporation; or an administrator of the corporation appointed under the Corporations Act ; or an administrator of a deed of company arrangement for the corporation appointed under the Corporations Act ; or a receiver appointed under the Administration Act for property of the corporation. However, subsection (1) does not prevent a corporation that holds a real estate agent licence selling or attempting to sell, or offering for sale or resale, any property by way of auction if the auction is conducted by an auctioneer who is an employed licensee of the corporation. A corporation that is a former licensee may perform an activity authorised under the former licence if the activity is performed by a person mentioned in subsection (1) (b) , (c) , (d) , (e) or (f) . If a corporation that holds a licence or is a former licensee performs an activity it is not authorised to perform, it is taken to be a person who acts as a licensee without a licence for the performance of the activity. In this section— former licensee means— a licensee under a licence that was previously in force; or a licensee under an existing licence. (sec.55-ssec.1) A corporation that holds a licence may perform an activity under its licence only if the activity may be performed by— a licensed person who is in charge of the corporation’s business; or a person permitted under section 84 (2) (b) (ii) (B) to be in charge of a particular place, if the activity is performed at that place; or a liquidator or controller appointed under the Corporations Act of property of the corporation; or an administrator of the corporation appointed under the Corporations Act ; or an administrator of a deed of company arrangement for the corporation appointed under the Corporations Act ; or a receiver appointed under the Administration Act for property of the corporation. (sec.55-ssec.2) However, subsection (1) does not prevent a corporation that holds a real estate agent licence selling or attempting to sell, or offering for sale or resale, any property by way of auction if the auction is conducted by an auctioneer who is an employed licensee of the corporation. (sec.55-ssec.3) A corporation that is a former licensee may perform an activity authorised under the former licence if the activity is performed by a person mentioned in subsection (1) (b) , (c) , (d) , (e) or (f) . (sec.55-ssec.4) If a corporation that holds a licence or is a former licensee performs an activity it is not authorised to perform, it is taken to be a person who acts as a licensee without a licence for the performance of the activity. (sec.55-ssec.5) In this section— former licensee means— a licensee under a licence that was previously in force; or a licensee under an existing licence. - (a) a licensed person who is in charge of the corporation’s business; or - (b) a person permitted under section 84 (2) (b) (ii) (B) to be in charge of a particular place, if the activity is performed at that place; or - (c) a liquidator or controller appointed under the Corporations Act of property of the corporation; or - (d) an administrator of the corporation appointed under the Corporations Act ; or - (e) an administrator of a deed of company arrangement for the corporation appointed under the Corporations Act ; or - (f) a receiver appointed under the Administration Act for property of the corporation. - (a) a licensee under a licence that was previously in force; or - (b) a licensee under an existing licence.