Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 437C
Powers of other officers suspended
- (1)
- While a company is under administration, a
person (other than the administrator) cannot perform or exercise, and must not
purport to perform or exercise, a function or power as an officer of the
company, except with the administrator's written approval.
- (2)
- Subsection (1) does not remove an officer of a company from his
or her office.
- (3)
- Section 437D does not limit the generality of subsection (1) of
this section.
- (4)
- In this section:
officer, in relation to a company under administration, includes:
- (a)
- a receiver who is not
also a manager; and
- (b)
- a receiver and manager appointed by a court; and
- (c)
- a liquidator or provisional liquidator appointed by the Court
before the administration began.
- (5)
- However, a person is not an officer of a
company for the purposes of this section merely because he or she is an
employee of the company.
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