Document ID: chunk:federal_register_of_legislation:C2007A00132:clause:1_444db
Version: federal_register_of_legislation:C2007A00132
Segment Type: clause
Provision Reference: sch 1 cl 444DB
Character Range: 9391–11180

444DB  Superannuation contribution debts not admissible to proof

Whole of superannuation contribution debt

 (1) A deed of company arrangement must contain a provision to the effect that the administrator of the deed must determine that the whole of a debt by way of a superannuation contribution is not admissible to proof against the company if:
 (a) a debt by way of superannuation guarantee charge:
 (i) has been paid; or
 (ii) is, or is to be, admissible to proof against the company; and
 (b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to the whole of the first‑mentioned debt.

 (2) If the administrator of a deed of company arrangement determines, under a provision covered by subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.

Part of superannuation contribution debt

 (3) A deed of company arrangement must contain a provision to the effect that the administrator of the deed must determine that a particular part of a debt by way of a superannuation contribution is not admissible to proof against the company if:
 (a) a debt by way of superannuation guarantee charge:
 (i) has been paid; or
 (ii) is, or is to be, admissible to proof against the company; and
 (b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to that part of the first‑mentioned debt.

 (4) If the administrator of a deed of company arrangement determines, under a provision covered by subsection (3), that a part of a debt is not admissible to proof against the company, that part of the debt is extinguished.

Definition

 (5) In this section:

superannuation contribution has the same meaning as in section 556.