CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 496.10 Powers of officers can only be exercised by, or with the consent of, special administrator

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 496.10

  (1)   While an Aboriginal and Torres Strait Islander corporation is under special administration, a person (other than the special administrator) cannot perform or exercise, and must not purport to perform or exercise, a function or power as an officer of the corporation.

Penalty:   25 penalty units or imprisonment for 6 months, or both.

  (2)   Subsection   (1) does not apply to the extent to which the performance or exercise, or purported performance or exercise, is with the special administrator's written approval.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (2) (see subsection   13.3(3) of the Criminal Code ).

  (2A)   Subsection   (1) does not apply to the extent to which the person is performing or exercising, or purporting to perform or exercise, a function or power as restructuring practitioner for a restructuring plan made by the corporation under Part   5.3B of the Corporations Act (as applied by section   522 - 1 of this Act).

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (2A) (see subsection   13.3(3) of the Criminal Code ).

  (3)   An offence against subsection   (1) is an offence of strict liability.

Note:   For strict liability , see section   6.1 of the Criminal Code .

  (4)   Subsection   (1) does not remove an officer of an Aboriginal and Torres Strait Islander corporation from his or her office.

  (5)   Section   496 - 15 does not limit the generality of subsection   (1) of this section.

  (6)   This section has effect despite:

  (a)   Part   5.2 of the Corporations Act (as applied by section   516 - 1 of this Act); and

  (b)   Part   5.3A of the Corporations Act (as applied by section   521 - 1 of this Act).

Note:   This means that a receiver, or an administrator appointed under Part   5.3A of the Corporations Act (as applied by section   521 - 1 of this Act), cannot exercise any powers without the approval of the special administrator.

  (7)   Despite subsection   (6), this section does not affect the validity of anything that a person who is:

  (a)   a receiver, or a receiver and manager, of property of the corporation; or

  (b)   an administrator of the corporation appointed under Part   5.3A of the Corporations Act;

does after the special administration begins and on or before the day on which the Registrar complies with subsection   493 - 1(4) in relation to the special administration.