74YResponsibility of related body corporate

74Y Responsibility of related body corporate

(1)  In this section –

related body corporate has the same meaning as in the Corporations Act.

(2)  Instead of, or in addition to, serving a notice on a company, the Director may serve that notice on a related body corporate if, within the immediately preceding 2 years, one or more of the following events have occurred:

(a) the company has been wound up;

(b) proceedings for the winding-up of the company have been commenced;

(c) assets of the company have been transferred to another company.

(3)  For the purposes of this Part, if –

(a) a company is wholly or partly responsible for the release in, on or under an area of land of the pollutant which is the cause of a notice being issued; and

(b) the company has been wound up or its assets have been transferred to another company; and

(c) a related body corporate has been served with a notice under subsection (2)  –

the related body corporate which has been so served with the notice is taken to be responsible for the release of that pollutant, with the responsibility of the company for the presence of the pollutant in, on or under the area of land in respect of which the notice was served being equally divided between each such related body corporate.