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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 10 - Execution and effect of deed of company arrangement  

SECTION 444DB  SUPERANNUATION CONTRIBUTION DEBTS NOT ADMISSIBLE TO PROOF  

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444DB(1)  Whole of superannuation contribution debt.  


A deed of company arrangement must contain a provision to the effect that the administrator of the deed 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:


(i) has been paid; or

(ii) is, or is to be, admissible to proof against the company; and


(b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to the whole of the first-mentioned debt.

444DB(2)  [Where whole of debt not admissible]  


If the administrator of a deed of company arrangement determines, under a provision covered by subsection (1), that the whole of a debt is not admissible to proof against the company, the whole of the debt is extinguished.

444DB(3)  Part of superannuation contribution debt.  


A deed of company arrangement must contain a provision to the effect that the administrator of the deed 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:


(i) has been paid; or

(ii) is, or is to be, admissible to proof against the company; and


(b) the administrator of the deed is satisfied that the superannuation guarantee charge is attributable to that part of the first-mentioned debt.

444DB(4)  [Where part of debt not admissible]  


If the administrator of a deed of company arrangement determines, under a provision covered by subsection (3), that a part of a debt is not admissible to proof against the company, that part of the debt is extinguished.

444DB(5)  Definition.  


In this section:

superannuation contribution has the same meaning as in section 556.


 



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