Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(1) The registrar may, with the approval of the Minister, appoint an administrator to conduct the affairs of a society.
(2) The registrar shall not appoint an administrator of a society unless the registrar has reasonable grounds for believing, and certifies, that—
(a) a ground referred to in section 38AA (2) (a), (b), (c) or (d) exists in relation to the society; or
(b) as a result of an inquiry under section 7 into the affairs of the society, it is in the interests of its members, depositors or creditors that an administrator should be appointed to conduct the affairs of the society; or
(c) in the interests of members, depositors or creditors of the society, it is expedient that an administrator should be appointed to conduct the affairs of the society.
(3) On the appointment of an administrator of a society, other than an appointment under subsection (8):
(a) the directors of that society cease to hold office;
(d) any delegation made by the board of that society is revoked.
(4) The administrator of a society may, if the administrator is of the opinion that it is necessary to preserve the viability of the society, terminate—
(a) any contract of employment with that society; and
(b) any contract for the provision of secretarial or administrative services for that society.
(5) An administrator of a society has the powers, authorities, duties and functions that the board would, apart from this section, have had.
(6) Notwithstanding anything contained in this Act or the rules of a society, an administrator may, in the conduct of the affairs of the society—
(a) raise money or obtain other financial accommodation; or
(b) receive money on deposit;
in the amounts that the administrator, with the approval of the registrar, determines.
(7) Except as provided by subsection (8), a director of a society shall not be appointed or elected while the appointment of an administrator is in force.
(8) Before revoking the appointment of an administrator of a society, the registrar shall—
(a) appoint another person as administrator; or
(b) ensure that directors of that society have been elected in accordance with its rules at a meeting called by the administrator in accordance with those rules; or
(c) appoint directors of that society.
(9) A director elected or appointed under subsection (8)—
(a) takes office on revocation of the appointment of the administrator; and
(b) if the director was appointed—holds office until—
(i) he or she ceases to hold office in accordance with this Act or the rules of the society; or
(ii) the annual general meeting of the society after the revocation of that appointment;
whichever first occurs.
(10) The expenses of and incidental to the conduct of the affairs of a society by an administrator are payable from the funds of the society.
(11) An administrator who is not a public servant shall be paid the remuneration determined by the registrar.
(12) If an administrator is a public servant, the registrar shall certify an amount that represents the remuneration of the administrator referable to the conduct by the administrator of the affairs of the society and that amount is recoverable as a debt due to the Territory.
(13) A person who is or was an administrator of a society is not liable to an action (other than an action for negligence) or other proceeding for or in relation to an act done or omitted to be done in good faith in exercise or purported exercise of any function, given to the person as administrator.
(14) The registrar is not liable for any loss sustained by a society as a result of an act done or omitted to be done by an administrator, whether or not the administrator is liable.
(15) In this section:
"expenses" includes:
(a) in relation to an administrator who is not a public servant, the remuneration of the administrator; and
(b) in relation to an administrator who is a public servant, the amount certified under subsection (12).