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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 487.1

Registrar may put Aboriginal and Torres Strait Islander corporation under special administration

  (1)   The Registrar may determine, in writing, that an Aboriginal and Torres Strait Islander corporation is to be under special administration for the period specified in the determination.

  (2)   A determination under subsection   (1) is not a legislative instrument.

  (3)   The Registrar:

  (a)   must not make a determination under subsection   (1) if:

  (i)   the corporation is being wound up; or

  (ii)   a liquidator of the corporation has been appointed; and

  (b)   may make a determination under subsection   (1) even if the corporation is:

  (i)   being administered under Part   5.3A of the Corporations Act (as applied by section   521 - 1 of this Act); or

  (ii)   under restructuring under Part   5.3B of the Corporations Act (as applied by section   522 - 1 of this Act).

  (4)   The Registrar may make a determination under subsection   (1) only if the Registrar is satisfied that at least one of the grounds set out in section   487 - 5 is satisfied.

  (5)   The Registrar must make a determination under subsection   (1) in accordance with section   487 - 10.


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