Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:1_16ap
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 1 cl 16AP
Character Range: 27873–28616

16AP  When this Subdivision applies

  This Subdivision applies if:
 (a) a court orders the winding up of an ADI that becomes a declared ADI before, on or after the order is made; and
 (b) on making the order, the court appoints a liquidator of the ADI; and
 (c) an account‑holder has an entitlement under Subdivision C connected with a protected account the account‑holder has with the ADI; and
 (d) after the operation of section 16AI of this Act, section 553C of the Corporations Act 2001 and, if relevant, section 554B of that Act, there is still a debt payable by the ADI to the account‑holder, or a claim of the account‑holder against the ADI, based on a right to be paid an amount by the ADI in connection with the protected account.