Victorian Repealed Acts

This legislation has been repealed.

Pay-roll Tax Act 1971 - SECT 25

Liquidator to give notice

25. Liquidator to give notice



(1) Every person who is liquidator of any company which has been an employer
registered or required to be registered under this Act, shall, within fourteen
days after he has become liquidator of that company, serve on the Commissioner
notice in writing of his appointment as liquidator.

(2) The Commissioner shall, as soon as practicable thereafter, notify to the
liquidator the amount which appears to the Commissioner to be sufficient to
provide for any tax which then is or will thereafter become payable by the
company.

(3) The liquidator-

   (a)  shall not without leave of the Commissioner part with any of the
        assets of the company until he has been so notified;

   (b)  shall set aside out of the assets available for the payment of the
        tax, assets to the value of the amount so notified, or the whole of
        the assets so available if they are of less than that value; and

   (c)  shall, to the extent of the value of the assets which he is so
        required to set aside, be liable as trustee to pay the tax.







(4) If the liquidator fails to comply with any provision of this section (or
fails as trustee duly to pay the tax for which he is liable under subsection
(3)), he shall, to the extent of the value of the assets of which he has taken
possession and which are, or were at any time, available to him for the
payment of the tax, be personally liable to pay the tax, and shall be guilty
of an offence.

Penalty: 50 penalty units.

(5) Where more persons than one are appointed liquidators or required by law
to carry out the winding-up, the obligations and liabilities attaching to a
liquidator under this section shall attach to each of those persons and, where
any one of those persons has paid the tax due in respect of the company being
wound-up, the other person or persons shall each be liable to pay that person
his equal share of the amount of the tax so paid.

(6) Notwithstanding anything contained in this section, all costs, charges and
expenses which, in the opinion of the Commissioner, have been properly
incurred by the liquidator in the winding-up of a company, including the
remuneration of the liquidator, may be paid out of the assets of the company
in priority to any tax payable in respect of the company.

(7) Nothing in this section-

   (a)  limits the liability of a liquidator under section 42; or

   (b)  affects any of the provisions of the Corporations Law.



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