Document ID: chunk:federal_register_of_legislation:C2019A00115:clause:1_153zb:p2
Version: federal_register_of_legislation:C2019A00115
Segment Type: clause
Provision Reference: sch 1 cl 153ZB (pt 2/2)
Character Range: 40541–42376

than in accordance with paragraph (3)(a).
 (5) An order under subsection (2) or (3) must specify:
 (a) the interests in the securities and assets, or the kinds of interests in the securities and assets, that the body corporate must dispose of; and
 (b) the day by which the disposal must be made; and
 (c) any other matter that the Court considers necessary for the order to be effective.
 (6) The day by which the disposal must be made must be no earlier than 12 months after the day on which the order is made.
 (7) The order may specify conditions with which the body corporate must comply during the period between the making of the order and the disposal of an interest, if the Court is satisfied that those conditions are necessary to preserve any of the following:
 (a) the value of the interest;
 (b) in the case of an interest in an asset—the commercial operation of the asset.
 (8) Without limiting the scope of subsection (7), those conditions may relate to any of the following:
 (a) the interest to be disposed;
 (b) if the interest is a share or other security in a body corporate—the exercise of rights attached to the share or other security.
 (9) If a body corporate disposes of interests in assets to another body corporate as required by an order made under this section, then for the purposes of paragraph 311(1)(d) or 768AD(1)(d) of the Fair Work Act 2009, there is taken to be a connection between the body corporate and the other body corporate as described in subsection 311(3) or 768AD(2), as the case may be, of that Act.
Note: This means any employees of the body corporate who become employees of the other body corporate and satisfy paragraphs 311(1)(a) to (c) or 768AD(1)(a) to (c) will be transferring employees in relation to a transfer of business for the purposes of Part 2‑8 or Part 6‑3A of that Act.