Document ID: chunk:federal_register_of_legislation:C2024C00492:section:6:p166
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 6 (pt 166/175)
Character Range: 590677–593622

an Aboriginal and Torres Strait Islander corporation may be assumed by someone other than the directors of the corporation.
      There are basically 5 ways in which this can happen:

                (a) The Registrar may appoint a special administrator for the corporation under Part 11‑2.
                (b) A receiver, or another controller, of the corporation's property may be appointed under the provisions of Part 5.2 of the Corporations Act (as applied by Part 11‑3 of this Act).
                (c) An administrator for the corporation may be appointed under Part 5.3A of the Corporations Act (as applied by Part 11‑4 of this Act).
                (ca) A restructuring practitioner for the corporation may be appointed under Part 5.3B of the Corporations Act (as applied by Part 11‑4A of this Act).
                (d) The corporation may be wound up on the grounds set out in Part 11‑5 of this Act (with the winding up being carried out under Chapter 5 of the Corporations Act as applied by Part 11‑5 of this Act).
      The following Parts of this Chapter also apply some other provisions of the Corporations Act to an Aboriginal and Torres Strait Islander corporation:

                (a) Part 11‑6 applies Divisions 3, 4, 5 and 6 of Part 5.7B of the Corporations Act (which deal with insolvent trading and creditor‑defeating dispositions);
                (b) Part 11‑7 applies Part 5.8A of the Corporations Act (which deals with employee entitlements).

Part 11‑2—Special administration

Division 487—Special administration of Aboriginal and Torres Strait Islander corporation

487‑1  Registrar may put Aboriginal and Torres Strait Islander corporation under special administration
 (1) The Registrar may determine, in writing, that an Aboriginal and Torres Strait Islander corporation is to be under special administration for the period specified in the determination.
 (2) A determination under subsection (1) is not a legislative instrument.
 (3) The Registrar:
 (a) must not make a determination under subsection (1) if:
 (i) the corporation is being wound up; or
 (ii) a liquidator of the corporation has been appointed; and
 (b) may make a determination under subsection (1) even if the corporation is:
 (i) being administered under Part 5.3A of the Corporations Act (as applied by section 521‑1 of this Act); or
 (ii) under restructuring under Part 5.3B of the Corporations Act (as applied by section 522‑1 of this Act).
 (4) The Registrar may make a determination under subsection (1) only if the Registrar is satisfied that at least one of the grounds set out in section 487‑5 is satisfied.
 (5) The Registrar must make a determination under subsection (1) in accordance with section 487‑10.

487‑5  Grounds for special administration
 (1) The following are the grounds for determining that an Aboriginal and Torres Strait Islander corporation is to be under special administration:
 (a) the corporation has traded at