Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) For this Division, an incorporated association is taken to be unable to pay its debts only if execution or other process issued on a judgment, decree or order of a court in favour of a creditor of the association is returned unsatisfied in whole or in part.
(2) In this Division:
"appropriate officer" means, in relation to an incorporated association:
(a) that is being or has been wound up – the liquidator; or
(b) for which a provisional liquidator has been appointed – the provisional liquidator; or
(c) that is or has been under administration – the administrator or statutory manager; or
(d) that has executed a deed of arrangement – the deed's administrator; or
(e) that is defunct or is unable to pay its debts – the Commissioner.
"relevant day" means, in relation to an incorporated association:
(a) that is being or has been wound up:
(i) if, because of the application of Part 5.6, Division 1A of the Corporations Act 2001, the winding up is taken to have begun on the day when an order that the association be wound up was made – the day on which the application for the order was filed; or
(ii) in any other case – the day on which the winding up is taken, because of Part 5.6, Division 1A of the Corporations Act 2001 , to have begun; or
(b) for which a provisional liquidator has been appointed – the day on which the provisional liquidator was appointed; or
(c) that is or has been under administration – the day on which the administration began; or
(d) that has executed a deed of arrangement – the day on which the deed was executed; or
(e) that is unable to pay its debts – the day on which execution or other process was first returned unsatisfied in whole or in part.