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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.8A - EMPLOYEE ENTITLEMENTS  

SECTION 596AB  ENTERING INTO AGREEMENTS OR TRANSACTIONS TO AVOID EMPLOYEE ENTITLEMENTS  

596AB(1)  [Person not to enter agreement]  


A person must not enter into a relevant agreement or a transaction with the intention of, or with intentions that include the intention of:


(a) preventing the recovery of the entitlements of employees of a company; or


(b) significantly reducing the amount of the entitlements of employees of a company that can be recovered.

596AB(2)  [Company not party or court approval]  


Subsection (1) applies even if:


(a) the company is not a party to the agreement or transaction; or


(b) the agreement or transaction is approved by a court.

596AB(3)  [``relevant agreement or a transaction'']  


A reference in this section to a relevant agreement or a transaction includes a reference to:


(a) a relevant agreement and a transaction; and


(b) a series or combination of:


(i) relevant agreements or transactions; or

(ii) relevant agreements; or

(iii) transactions.

596AB(4)  [Contravention]  


If a person contravenes this section by incurring a debt (within the meaning of section 588G), the incurring of the debt and the contravention are linked for the purposes of this Act.

 



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