New South Wales Consolidated Acts

CO-OPERATIVES ACT 1992 - SECT 349

349 Application of provisions of Corporations Act to person appointed

(1) Clauses 10, 12 (2) and (4), 13, 17 and 19 of Schedule 4 (Receivers and managers) apply to a person appointed to administer a compromise or arrangement as if the appointment were an appointment of the person as a receiver and manager of property of the co-operative and as if a reference to a receiver were a reference to that person.

(2) A person appointed to administer a compromise or arrangement is declared to be an applied Corporations legislation matter for the purposes of Part 3 of the Corporations (Ancillary Provisions) Act 2001 in relation to section 536 of the Corporations Act as if:

(a) the appointment were an appointment as a liquidator of the co-operative, and

(b) a reference in that section to a liquidator were a reference to that person, and

(c) a reference in that section to ASIC were a reference to the Registrar.

Note: See the note to section 10 (1).