Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p1
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 1/110)
Character Range: 154164–157150

Schedule 3

  28.(1) Schedule 3 to the Corporations Law is amended by omitting:

"Section 234:

  Penalty: $5,000 or imprisonment for 1 year, or both.".

(2) Schedule 3 to the Corporations Law is amended by inserting before "Section 245:" the following:

"Section 243ZF:

  Penalty: $20,000 or imprisonment for 3 years, or both.

Section 243ZH:

  Penalty: $2,500 or imprisonment for 6 months, or both.".

                PART 4—EXTERNAL ADMINISTRATION OF COMPANIES AND PART 5.7 BODIES

Division 1—Amendments of the Corporations Law

Dictionary

  29. Section 9 of the Corporations Law is amended:

    (a)     by omitting ", 444 and 500," from paragraph (a) of the definition of "company" and substituting ", 500 and 600F,";

    (b)    by omitting "Part" (first occurring) from paragraph (c) of the definition of "company" and substituting "Parts 5.7B and";

    (c)     by omitting "body corporate to which Part 5.7 applies" from paragraph (b) of the definition of "contributory" and substituting "Part 5.7 body";

    (d)    by omitting paragraph (c) of the definition of "externally-administered body corporate" and substituting the following paragraphs:

       "(c) that is under administration;

          (ca) that has executed a deed of company arrangement that has not yet terminated; or";

    (e)     by omitting "in sections 475, 531, 532 and 535 to 540, inclusive, and" from the definition of "liquidator";

    (f)      by inserting "(for example, but without limitation, through the operation of a presumption for which this Law or any other law of this jurisdiction provides)" after "way" in the definition of "prove";

    (g)     by omitting the definitions of "entity", "party", "relevant date" and "resolution" and substituting the following definitions:

     " 'entity':

         (a) in Part 3.2A—has the meaning given by section 243C; and

      (b) in Parts 3.6 and 3.7—has the meaning given by section 294A; and

    (c) otherwise—has the meaning given by section 64A;

   'party':

      (a)     in relation to a transaction—includes, if the transaction has been completed or given effect to, or has been terminated, a person who was a party to the transaction; and

      (b)     in relation to a Chapter 8 agreement—means, in the case of a proposed or discharged relevant agreement, a person who would be a party to the relevant agreement if it were in effect;

   'relevant date', in relation to a winding up, means the day on which the winding up is taken because of Division 1A of Part 5.6 to have begun;

   'resolution' means:

      (a)     in relation to a body corporate—a resolution other than a special resolution; or

      (b)     in relation to creditors or contributories—a resolution passed at a meeting of the creditors or contributories;";

(h) by inserting the following definitions:

   " 'administration', in relation to a body corporate or relevant body, or an entity within the meaning of Parts 3.6 and 3.7, has, in the case of a