Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The persons who are directors of the company from time to time on and after the day when the Commissioner sent to the company notice of the estimate must cause the company to do at least one of the following within 14 days after that day:
(a) pay to the Commissioner the amount of the estimate;
(b) make an agreement with the Commissioner under section 222ALA in relation to the company's liability to pay the estimate;
(c) appoint an administrator of the company under section 436A of the Corporations Act 2001 ;
(d) begin to be wound up within the meaning of that Act.
(2) This section is complied with when:
(a) the company's liability to pay the estimate is discharged; or
(b) the company makes an agreement as mentioned in paragraph (1)(b); or
(c) an administrator of the company is appointed under section 436A, 436B or 436C of the Corporations Act 2001 ;
(d) the company begins to be wound up within the meaning of that Act;
whichever first happens, even if the directors did not cause the event to happen.
(3) If this section is not complied with before the end of the 14 days, the persons who are directors of the company from time to time after the 14 days continue to be under the obligation imposed by subsection (1) until this section is complied with.