Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p16
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 16/110)
Character Range: 193043–195865

an administrator of the corporation; or

        (c)     an administrator of a deed of company arrangement executed by the corporation; or

      (d)     the Commission.

     "(6) An order under this section may be varied or amended on the application of the receiver concerned.

     "(7) An order under this section may be made, varied or amended only as provided in subsections (5) and (6).".

47. Section 426 of the Corporations Law is repealed and the following section is substituted:

Controller has qualified privilege in certain cases

"426. A controller of property of a corporation has qualified privilege in respect of:

    (a)     a matter contained in a report that the controller lodges under section 421A or 422; or

    (b)     a comment that the controller makes under paragraph 429(2)(c).".

Notification of matters relating to controller

48. Section 427 of the Corporations Law is amended by omitting subsections (2), (3) and (4) and substituting the following subsections:

"(1A) A person who appoints another person to enter into possession, or take control, of property of a corporation (whether or not as agent for the corporation) for the purpose of enforcing a charge otherwise than as receiver of that property must:

    (a)     within 7 days after making the appointment, lodge notice of the appointment; and

    (b)     within 21 days after making the appointment, cause notice of the appointment to be published in the Gazette.

"(1B) A person who enters into possession, or takes control, as mentioned in subsection (1A) must:

      (a)    within 7 days after so entering into possession or taking control, lodge notice that the person has done so; and

     (b)     within 21 days after so entering into possession or taking control, cause to be published in the Gazette notice that the person has done so;

unless another person:

     (c)     appointed the first-mentioned person so to enter into possession or take control; and

  (d)     complies with subsection (1A) in relation to the appointment.

"(2) Within 14 days after becoming a controller of property of a corporation, a person must lodge notice in the prescribed form of the address of the person's office.

"(3) A controller of property of a corporation must, within 14 days after a change in the situation of the controller's office, lodge notice in the prescribed form of the change.

"(4) A person who ceases to be a controller of property of a corporation must:

    (a)     within 7 days after so ceasing, lodge notice that the person has so ceased; and

    (b)     within 21 days after so ceasing, cause notice that the person has so ceased to be published in the Gazette.".

Statement that receiver appointed or other controller acting

49. Section 428 of the Corporations Law is amended by adding at the end