Document ID: chunk:federal_register_of_legislation:C2011C00610:clause:1_7:p2
Version: federal_register_of_legislation:C2011C00610
Segment Type: clause
Provision Reference: sch 1 cl 7 (pt 2/2)
Character Range: 45548–48258

procedural step taken by your supervising entity is taken to have been taken by you.

Multiple supervising entities

 (9) If you have 2 or more supervising entities, anything this Division provides for to be done by or in relation to your supervising entity may be done by or in relation to any of them.

268‑100  Division not to limit or exclude Corporations or Bankruptcy Act

  This Division is not intended to limit or exclude the operation of Chapter 5 of the Corporations Act 2001 (External administration), or the Bankruptcy Act 1966, to the extent that Chapter or Act can operate concurrently with this Division.

Note: Section 268‑30 and Subdivision 268‑D affect the operation of Chapter 5 of the Corporations Act 2001 and the Bankruptcy Act 1966.

Division 269—Penalties for directors of non‑complying companies

Table of Subdivisions

 Guide to Division 269
269‑A Object and scope
269‑B Obligations and penalties
269‑C Discharging liabilities
269‑D Miscellaneous

Guide to Division 269

269‑1  What this Division is about

      The directors of a company have a duty to ensure that the company either:

                (a) meets its obligations under Subdivision 16‑B (obligation to pay withheld amounts to the Commissioner) and Division 268; or
                (b) goes promptly into voluntary administration under the Corporations Act 2001 or into liquidation.

      The directors' duties are enforced by penalties.
                  Note: The duties this Division imposes on the directors of the company are in addition to the similar duties imposed on the public officer of the company. See subsection 252(1) of the Income Tax Assessment Act 1936.

Subdivision 269‑A—Object and scope

Table of sections

269‑5 Object of Division
269‑10 Scope of Division

269‑5  Object of Division

  The object of this Division is to ensure that a company either:
 (a) meets its obligations under Subdivision 16‑B (obligation to pay withheld amounts to the Commissioner) and Division 268; or
 (b) goes promptly into voluntary administration under the Corporations Act 2001 or into liquidation.

Note: The directors' duties are enforced by penalties on the directors. A penalty recovered under this Division is applied towards meeting the company's obligation.

269‑10  Scope of Division

 (1) This Division applies as set out in the following table:

Obligations that directors must cause company to comply with
Item                                                          This Division applies if, on a particular day (the initial day), a company registered under the Corporations Act 2001 ...  and the company is obliged to pay to the Commissioner on or before a particular day (the due day) ...