Commonwealth Consolidated Acts

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 540.10

                   The Registrar may make a transfer of registration declaration in relation to the Aboriginal and Torres Strait Islander corporation under this section if the Registrar is satisfied that:

                     (a)  the application complies with section 540-5; and

                     (b)  the corporation's creditors are not likely to be materially prejudiced by the transfer of the corporation's registration; and

                     (c)  the law of the Commonwealth, the State or the Territory concerned adequately provides for:

                              (i)  the continuation of the corporation's legal personality after the transfer; and

                             (ii)  the preservation of any rights or claims against the corporation (other than the right of a member as a member) that accrued while the corporation was registered under this Act.