Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p34
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 34/71)
Character Range: 307565–310420

Court gives a direction that is inconsistent with subsection (1), that subsection does not apply to the extent of the inconsistency.

Offence
 (3) A person commits an offence of strict liability if:
 (a) the person is subject to a requirement under subsection (1); and
 (b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code).

65‑10  Administration accounts
 (1) A bank account is an administration account for a company if:
 (a) the account is maintained in relation to the external administration of the company; and
 (b) if any requirements are prescribed in relation to the administration accounts of companies under external administration, the account complies with those requirements.
 (2) A bank account is an administration account for a member of a pooled group of companies if:
 (a) the account is maintained in relation to the external administration of the pooled group of companies; and
 (b) if any requirements are prescribed in relation to the administration accounts of companies under external administration, the account complies with those requirements.

65‑15  External administrator must not pay other money into the administration account

External administrator must not pay other money into the administration account
 (1) The external administrator of a company must not pay any money into an administration account for the company if it is not received by the external administrator on behalf of, or in relation to:
 (a) the company; or
 (b) if the company is a member of a pooled group—another member of the pooled group.

Exception
 (2) If the Court gives a direction that is inconsistent with subsection (1), that subsection does not apply to the extent of the inconsistency.

Offence
 (3) A person commits an offence of strict liability if:
 (a) the person is subject to the requirement under subsection (1); and
 (b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code).

65‑20  Consequences for failure to pay money into administration account

Application of this section
 (1) This section applies if:
 (a) an external administrator of a company:
 (i) is subject to a requirement under subsection 65‑5(1) (paying money into administration account); and
 (ii) fails to comply with the requirement in relation to an amount of money; and
 (b) the amount exceeds:
 (i) $50; or
 (ii) if another amount is prescribed—that other amount.

Exception
 (2) Subsection (1) does not apply if, on the application of the external administrator of the company, the Court is satisfied that the external administrator had