Document ID: chunk:federal_register_of_legislation:F2024C00932:clause:4_7
Version: federal_register_of_legislation:F2024C00932
Segment Type: clause
Provision Reference: sch 4 cl 7
Character Range: 102605–103583

7                                                   Section 443D                 Repeal the section, substitute:
                                                                                 443D Right of indemnity
                                                                                 The administrator of a company under administration is entitled to be indemnified out of the company's property for:
                                                                                 (a) debts for which the administrator is liable under Subdivision A or a remittance provision as defined in subsection 443BA(2); or
                                                                                 (b) any other debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, by the administrator in the performance or exercise, or purported performance or exercise, of any of his or her functions or powers as administrator.