Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p77
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 189593–192470

foreign company; and
          (iii) in the case of any other corporation—be read as a reference to property within the Territory of the corporation.
"(2) In this Part, unless the contrary intention appears—
'Australia' includes the external Territories;
     'officer', in relation to a registered foreign company, includes a person who is the agent of the registered foreign company as defined in Division 5 of Part XIII.".

Disqualification for appointment as receiver, &c.
91. Section 323 of the Principal Act is amended—
     (a) by omitting from sub-section (1) ", or shall act, as receiver of the property or part of the property" and substituting "as receiver of property";
     (b) by omitting from paragraph (1) (c) "the" (first occurring) and substituting "any";
     (c) by inserting after sub-section (1) the following sub-sections:
     "(1a) Subject to sub-section (1b), none of the following persons shall act as receiver of property of a corporation:
          (a) a mortgagee of any property of the corporation;
          (b) an auditor or an officer of the corporation;
          (c) an officer of any corporation that is a mortgagee of any property of the corporation;
          (d) a person who is not a registered liquidator.
     "(1b) Sub-section (1a) does not prohibit a person from acting as receiver of property of a corporation if he was appointed as a receiver

      of property of the corporation before the commencement of section 91 of the Companies and Securities Legislation (Miscellaneous Amendments) Act 1983";
     (d) by omitting sub-section (2) and substituting the following sub-section:
     "(2) For the purposes of sub-section (1) or (1a), a person shall be deemed to be an officer of a company, or an officer of a corporation, as the case requires, if—
          (a) he is an officer of a related corporation; or
          (b) except where the Commission, if it thinks fit in the circumstances of the case, directs that this paragraph shall not apply in relation to him—he has, at any time within the immediately preceding period of 12 months, been an officer or promoter of the company or corporation, or of a related corporation.";
     (e) by omitting from sub-section (3) "the property, or part of the property," and substituting "property";
     (f) by omitting from sub-section (4) "the" (last occurring);
     (g) by inserting after sub-section (4) the following sub-section:
     "(4a) Nothing in paragraph (1a) (d) applies to any corporation authorized by any Act, any law of the Territory or any law of a State or of another Territory to act as receiver of property of a corporation."; and
     (h) by omitting from sub-section (5) "the property or part of the property of a company" and substituting "property of a corporation".

Liability of receiver
92. Section 324 of the Principal Act is amended—
     (a) by omitting