Corporations (Aboriginal and Torres Strait Islander) Act 2006

CHAPTER 11 - EXTERNAL ADMINISTRATION  

PART 11-6 - INSOLVENT TRADING AND CREDITOR-DEFEATING DISPOSITIONS  

Division 531 - Insolvent trading and creditor-defeating dispositions  

SECTION 531-5   SECTIONS 588G, 588GAB AND 588GAC OF CORPORATIONS ACT PREVAIL OVER CONFLICTING NATIVE TITLE LEGISLATION OBLIGATIONS  

531-5(1)    

In the event of a conflict between:

(a)    the duty of a director of an Aboriginal and Torres Strait Islander corporation to ensure that the corporation comply with its Native Title legislation obligations; and

(b)    the director ' s duty in relation to the corporation under section 588G , 588GAB or 588GAC of the Corporations Act as applied by section 531-1 of this Act;

the director ' s duty under section 588G , 588GAB or 588GAC of the Corporations Act as so applied prevails, and the director is released from the first-mentioned duty, to the extent of the conflict.

531-5(2)    

The corporation is released from the duty to comply with its Native Title legislation obligations to the extent that complying with them would place a director of the corporation in breach of his or her duty in relation to the corporation under section 588G , 588GAB or 588GAC of the Corporations Act as so applied.