CORPORATIONS ACT 2001
Note: See section
GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS
CLAUSE 65-5 EXTERNAL ADMINISTRATOR MUST PAY ALL MONEY INTO AN ADMINISTRATION ACCOUNT
External administrator must pay money into the administration account
The external administrator of a company must pay all money received by the external administrator on behalf of, or in relation to, the company into an administration account for the company within 5 business days after receipt.
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 a 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