Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p6
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 6/110)
Character Range: 167206–170094

up is taken because of Division 1A of Part 5.6 to have begun;

'section 513C day', in relation to the administration of a company, has the meaning given by section 513C;

'solvent' has the meaning given by subsection 95A(1);

'statutory demand' means:

    (a)     a document that is, or purports to be, a demand served under section 459E; or

    (b)     such a document as varied by an order under subsection 459H(4);

'statutory minimum' means:

    (a)     if an amount greater than $2,000 is prescribed—the prescribed amount; or

  (b)     otherwise—$2,000;

'swear', in relation to an affidavit, means, in the case of an affirmation, affirm;

'transaction', in Part 5.7B, in relation to a body corporate or Part 5.7 body, means a transaction to which the body is a party, for example (but without limitation):

     (a)     a conveyance, transfer or other disposition by the body of property of the body; and

     (b)     a charge created by the body on property of the body; and

  (c)     a guarantee given by the body; and

  (d)     a payment made by the body; and

  (e)     an obligation incurred by the body; and

  (f)      a release or waiver by the body; and

  (g)     a loan to the body;

and includes such a transaction that has been completed or given effect to, or that has terminated;

'uncommercial transaction' has the meaning given by section 588FB;

     'unfair loan' has the meaning given by section 588FD;

     'unfair preference' has the meaning given by section 588FA;

     'unsecured', in relation to a debt, has in Part 5.7B a meaning affected by section 588D;

     'winding up by the Court' includes winding up in insolvency;

     'wound up by the Court' includes wound up in insolvency;".

Affairs of a body corporate

  30. Section 53 of the Corporations Law is amended:

    (a)     by omitting "of section" and substituting "of the definition of 'examinable affairs' in section 9, section 53AA or";

  (b)    by omitting "or 597";

    (c)     by omitting subparagraph (d)(ii) and substituting the following subparagraphs:

      "(ii) the body is under administration;

         (iia) a deed of company arrangement executed by the body has not yet terminated;";

    (d) by omitting from paragraph (d) "of an official manager or deputy official manager of the body," and substituting "of an administrator of the body, of an administrator of such a deed of company arrangement,".

31. After section 53 of the Corporations Law the following sections are inserted:

Business affairs of a body corporate

"53AA. A body corporate's business affairs include (without limitation):

    (a)     any of the body's affairs (including anything that is included in the body's affairs because of section 53); and

    (b)     matters concerned with ascertaining the corporations with which the body is or has been connected.

Business affairs of a natural