Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p49
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 49/63)
Character Range: 363545–366408

have the capacity to declare dividends to unsecured creditors of the *incapacitated entity.
 (4) This section does not apply in circumstances determined by the Commissioner under subsection (5).
 (5) The Commissioner may, by legislative instrument, determine circumstances in which this section does not apply.

58‑65  Money available to meet representative's liabilities
  A *representative of an *incapacitated entity who is liable to pay an amount because of this Division is authorised and required to apply any money which the representative receives in his or her capacity as that representative in order to pay the liability.

58‑70  Protection for actions of representative
  A *representative of an *incapacitated entity is not liable to civil or criminal proceedings in relation to an act done, or omitted to be done, in good faith, in the performance or purported performance, or exercise or purported exercise, of the representative's duties or powers under, or in relation to, the *GST law.

58‑95  Division does not apply to the extent that the representative is a creditor of the incapacitated entity
  This Division does not apply in relation to a *representative of an entity to the extent that paragraph 105‑5(1)(a) will apply to a supply by the representative of the entity's property.
Note: For example, if the representative:
(a) is a mortgagee in possession of the entity's property; and
(b) is not a representative of the entity for any other reason;
 the representative need not register under section 58‑20 if it will supply that property in or towards the satisfaction of a debt owed to it by the entity.

Division 60—Pre‑establishment costs

60‑1  What this Division is about
      This Division enables input tax credits to arise in some circumstances in which acquisitions and importations are made before a company is in existence.

60‑5  Input tax credit for acquisitions and importations before establishment
 (1) If you make a *creditable acquisition that is a*pre‑establishment acquisition, or a *creditable importation that is a *pre‑establishment importation, relating to a *company before it is in existence:
 (a) you are not entitled to the input tax credit on the acquisition or importation; and
 (b) once the company is in existence, it is entitled to the input tax credit on the acquisition or importation.
 (2) This section has effect despite sections 11‑20 and 15‑15 (which are about who is entitled to input tax credits).

60‑10  Registration etc. not needed for input tax credits
 (1) If you make a *pre‑establishment acquisition, the fact that you are not *registered or *required to be registered does not stop the acquisition being a *creditable acquisition.
 (2) If you make a *pre‑establishment importation, the fact that you are not *registered or *required to be registered does not stop the acquisition being a