Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:2_16
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 2 cl 16
Character Range: 84754–85277

16  Costs of statutory management

 (1) APRA's costs (including costs in the nature of remuneration and expenses) of being in control of an ADI's business, or of having an administrator in control of an ADI's business, are payable from the ADI's funds and are a debt due to APRA.

 (2) Despite anything contained in any law relating to the winding‑up of companies, but subject to subsection 13A(3), debts due to APRA by an ADI under subsection (1) have priority in a winding‑up of the ADI over all other unsecured debts.