Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:3:p101
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 3 (pt 101/110)
Character Range: 407512–410485

from paragraph (2)(a) "4" and substituting "3";

    (c)     by omitting paragraph (b) of the definition of "appropriate officer" in subsection (5) and substituting the following paragraphs:

          "(aa) in relation to a company of which a provisional liquidator has been appointed—the provisional liquidator;

          (b) in relation to a company that is or has been under administration—the administrator;

          (ba) in relation to a company that has executed a deed of company arrangement—the deed's administrator;";

    (d) by omitting paragraph (a) of the definition of "relevant day" in subsection (5) and substituting the following paragraphs:

         "(a) in relation to a company that has been wound up, has been in the course of being wound up, or is being wound up:

              (i) if, because of Division 1A of Part 5.6, the winding up is taken to have begun on the day when an order that the company be wound up was made— the application for the order was filed; or

             (ii) otherwise—the winding up is taken because of Division 1A of Part 5.6 to have begun;

          (aa) in relation to a company of which a provisional liquidator has been appointed—the provisional liquidator was appointed;";

    (e) by omitting paragraph (b) of the definition of "relevant day" in subsection (5) and substituting the following paragraphs:

          "(b) in relation to a company that is or has been under administration—the administration began;

          (ba) in relation to a company that has executed a deed of company arrangement—the deed was executed;".

Offences by officers of certain companies

  113. Section 590 of the Corporations Law is amended:

    (a)     by omitting from each of paragraphs (1)(a), (c), (g) and (h) "5 years" and substituting "10 years";

    (b)    by inserting in subparagraph (1)(b)(ii) "(except books of which the person is entitled, as against the company and the appropriate officer, to retain possession)" after "company".

Incurring of certain debts; fraudulent conduct

114. Section 592 of the Corporations Law is amended by inserting in paragraph (1)(a) "before the commencement of Part 5.7B" after "debt".

Inducement to be appointed liquidator etc. of company

115. Section 595 of the Corporations Law is amended by omitting everything after "some other person," and substituting the following:

"as:

  (a)     a liquidator or provisional liquidator of the company; or

  (b)     an administrator of the company; or

    (c)     an administrator of a deed of company arrangement executed, or to be executed, by the company; or

    (d)     a receiver, or a receiver and manager, of property of the company; or

    (e)     a trustee or other person to administer a compromise or arrangement made between the company and any other person or persons.".

116. Before section 597 of the Corporations Law the following heading and sections are inserted in Part 5.9:

"Division 1—Examining a person