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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT  

Division 9 - Administrator's liability and indemnity for debts of administration  

Subdivision B - Indemnity  

SECTION 443D  

443D  RIGHT OF INDEMNITY  

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The administrator of a company under administration is entitled to be indemnified out of the company's property (other than any PPSA retention of title property subject to a PPSA security interest that is perfected within the meaning of the Personal Property Securities Act 2009) for:


(a) debts for which the administrator is liable under Subdivision A or a remittance provision as defined in subsection 443BA(2); and
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(aa) any other debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, by the administrator in the performance or exercise, or purported performance or exercise, of any of his or her functions or powers as administrator; and
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(b) the remuneration to which he or she is entitled under Division 60 of Schedule 2 (external administrator's remuneration).

[CCH Note: Regulation 10.25.02(3)(g) (which was effective 1 March 2017) provides that the amendments made by No 11 of 2016, s 3, Sch 2[116] apply in relation to external administrations on and after 1 September 2017.]


 



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