Document ID: chunk:federal_register_of_legislation:C2007A00132:clause:1_65
Version: federal_register_of_legislation:C2007A00132
Segment Type: clause
Provision Reference: sch 1 cl 65
Character Range: 58486–59635

65  Subsections 427(1), (1A) and (1B)
Repeal the subsections, substitute:

 (1) A person who:
 (a) obtains an order for the appointment of a receiver of property of a corporation; or
 (b) appoints such a receiver under a power contained in an instrument;
must, within 7 days after obtaining the order or making the appointment, lodge notice that the order has been obtained, or that the appointment has been made, as the case may be.

 (1A) A person who appoints another person to enter into possession, or take control, of property of a corporation (whether or not as agent for the corporation) for the purpose of enforcing a charge otherwise than as receiver of that property must, within 7 days after making the appointment, lodge notice of the appointment.

 (1B) A person who enters into possession, or takes control, as mentioned in subsection (1A) must, within 7 days after entering into possession or taking control, lodge notice that the person has done so, unless another person:
 (a) appointed the first‑mentioned person so to enter into possession or take control; and
 (b) complies with subsection (1A) in relation to the appointment.