Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) APRA's costs (including costs in the nature of remuneration and expenses) of being in control of a body corporate's business, or of having an administrator in control of a body corporate's business, are payable from the body corporate's funds and are a debt due to APRA.
(2) Despite anything contained in any law relating to the winding - up of companies, but subject to subsection 13A(3), debts due to APRA by a body corporate under subsection (1) have priority in a winding - up of the body corporate over all other unsecured debts.
Note: Subsection 13A(3) applies if the body corporate is an ADI, and provides for priorities for the application of the ADI's assets in Australia.