Document ID: chunk:federal_register_of_legislation:C2024C00492:section:3:p1
Version: federal_register_of_legislation:C2024C00492
Segment Type: section
Provision Reference: s 3 (pt 1/7)
Character Range: 631852–634745

3                         a deed of company arrangement  a deed of corporation arrangement

 (2) The Corporations Act restructuring provisions apply to an Aboriginal and Torres Strait Islander corporation:
 (a) only to the extent to which they are capable of applying to an Aboriginal and Torres Strait Islander corporation; and
 (b) with the modifications specified in the regulations.
 (3) Regulations made for the purposes of paragraph (2)(b) must not:
 (a) increase, or have the effect of increasing, the maximum penalty for any offence; or
 (b) widen, or have the effect of widening, the scope of any offence.
 (4) In this Act:
Corporations Act restructuring provisions means:
 (a) Part 5.3B of, and Schedule 2 to, the Corporations Act; and
 (b) the other provisions of that Act (including Parts 1.2, 5.8, 5.9 and 9.4 and Schedule 3 but not including Parts 1.1, 1.1A and 9.4A) to the extent to which they relate to the operation of Part 5.3B of, and Schedule 2 to, that Act; and
 (c) the regulations and rules made under that Act for the purposes of Part 5.3B of, and Schedule 2 to, that Act and the provisions referred to in paragraph (b).

522‑2  Corporations Act restructuring practitioner cannot be appointed if special administrator appointed
 (1) A restructuring practitioner for an Aboriginal and Torres Strait Islander corporation cannot be appointed under Part 5.3B of the Corporations Act (as applied by section 522‑1 of this Act) if:
 (a) the corporation is under special administration under Part 11‑2; or
 (b) the Registrar:
 (i) has given the corporation a notice under subsection 487‑10(1); and
 (ii) has not given the corporation a notice under subsection 487‑10(5).
 (2) Paragraph (1)(b) does not apply if the Registrar has consented in writing to the appointment of the restructuring practitioner under Part 5.3B of the Corporations Act (as applied by section 522‑1 of this Act).
 (3) A consent under subsection (2) to the appointment of a restructuring practitioner is not a legislative instrument.

522‑3  Effect of appointment of special administrator—Aboriginal and Torres Strait Islander corporation under restructuring
  If:
 (a) a restructuring practitioner for an Aboriginal and Torres Strait Islander corporation is appointed under Part 5.3B of the Corporations Act (as applied by section 522‑1 of this Act); and
 (b) while that appointment continues, a special administrator for the corporation is appointed under Part 11‑2; and
 (c) at the time the special administrator is appointed, the corporation has not made a restructuring plan;
the restructuring of the corporation under Part 5.3B of the Corporations Act (as applied by section 522‑1 of this Act) ends on the day on which the special administrator is appointed.

522‑4  Effect of appointment of special administrator—Aboriginal and Torres Strait Islander corporation subject to restructuring plan
 (1)