Corporations Act 2001
Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .
View history note
Hide history noteIn a winding up, the liquidator must determine that the whole of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge, or by way of a liability to pay the amount of an estimate under Division 268 in Schedule 1 to the Taxation Administration Act 1953 :
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the liquidator is satisfied that the superannuation guarantee charge or estimate liability is attributable to the whole of the first-mentioned debt.
[
CCH Note:
Act No 99 of 2012, s 3, Sch 1, Pt 3
[
46]
-
[
47] contained the following saving and application provisions (which were effective 30 June 2012):
has effect, from that commencement, as if it had been made under that section as amended by this Schedule.
Saving provision
-
estimates
46
An estimate:
(a)
made under section
268-10
in Schedule
1
to the
Taxation Administration Act 1953
; and
(b)
in force just before the commencement of this item;
47
The amendments made by this Division apply to superannuation guarantee charge for a quarter if the day by which you must lodge a superannuation guarantee statement for the quarter occurs on or after the day this item commences.]
If the liquidator determines, under subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.
553AB(3) Part of superannuation contribution debt.
In a winding up, the liquidator must determine that a particular part of a debt by way of a superannuation contribution is not admissible to proof against the company if:
(a) a debt by way of superannuation guarantee charge, or by way of a liability to pay the amount of an estimate under Division 268 in Schedule 1 to the Taxation Administration Act 1953 :
(i) has been paid; or
(ii) is, or is to be, admissible to proof against the company; and
(b) the liquidator is satisfied that the superannuation guarantee charge or estimate liability is attributable to that part of the first-mentioned debt.
If the liquidator determines, under subsection (3), that a part of a debt is not admissible to proof against the company, that part of the debt is extinguished.
553AB(5) Definition.
In this section:
superannuation contribution
has the same meaning as in section
556
.
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