CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 516.1 Applying Corporations Act receiver provisions to Aboriginal and Torres Strait Islander corporations
CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 516.1
Applying Corporations Act receiver provisions to Aboriginal and Torres Strait Islander corporations(1) The Corporations Act receiver provisions apply to an Aboriginal and Torres Strait Islander corporation as if the following substitutions were made:
Substitutions to be made | ||
Item | For a reference to... | substitute a reference to... |
1 | a corporation | |
2 | a company | |
3 | the Registrar | |
4 |
(2) The Corporations Act receiver provisions apply to an Aboriginal and Torres Strait Islander corporation:
(a) only to the extent to which they are capable of applying to an Aboriginal and Torres Strait Islander corporation; and
(b) with the modifications specified in the regulations.
(2A) Regulations made for the purposes of paragraph (2)(b) must not:
(a) increase, or have the effect of increasing, the maximum penalty for any offence; or
(b) widen, or have the effect of widening, the scope of any offence.
" Corporations Act receiver provisions" means:
(a) Part 5.2 of the Corporations Act; and
(b) the other provisions of that Act (including Parts 1.2, 5.8, 5.9 and 9.4 and Schedule 3 but not including Parts 1.1, 1.1A and 9.4A) to the extent to which they relate to the operation of Part 5.2 of that Act; and
(c) the regulations made under that Act for the purposes of Part
5.2 of that Act and the provisions referred to in paragraph (b).