CORPORATIONS ACT 2001
Note: See section 600K.
|PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS
|Division 65 - Funds handling
CLAUSE 65-15 EXTERNAL ADMINISTRATOR MUST NOT PAY OTHER MONEY INTO THE ADMINISTRATION ACCOUNT
| View history reference
External administrator must not pay other money into the administration account
The external administrator of a company must not pay any money into an administration account for the company if it is not received by the external administrator on behalf of, or in relation to:
(a) the company; or
(b) if the company is a member of a pooled group - another member of the pooled group.
If the Court gives a direction that is inconsistent with subsection (1), that subsection does not apply to the extent of the inconsistency.
A person commits an offence of strict liability if:
(a) the person is subject to the requirement under subsection (1); and
(b) the person fails to comply with the requirement.
Penalty: 50 penalty units.
Note: A defendant bears an evidential burden in relation to the matter in subsection (2) (see subsection 13.3(3) of the Criminal Code).