Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006 (125 of 2006)

Schedule 3   Transitional provisions

Part 2   Bringing transitional corporations across to new system

Division 14   Special administration

71   Grounds for special administration

Section 487-5 of the new Act applies in relation to a transitional corporation as if:

(a) the reference in subparagraph (1)(b)(i) of that section to the new Act included a reference to this Schedule; and

(b) the reference in subparagraph (1)(b)(ii) of that section to an internal governance rule of the corporation included a reference to the corporation's Rules; and

(c) the reference in subparagraph (1)(b)(iii) of that section to section 439-20 of the new Act included a reference to section 60A of the old Act; and

(d) the reference in paragraph (1)(c) of that section to Part 7-3 of the new Act included a reference to:

(i) subsections 59(2) to (9) of the old Act; and

(ii) Division 10 or 11 of this Part.

Note: The operation of section 487-5 of the new Act is also extended by item 6. That item, for example, treats the reference in paragraph 487-5(1)(b) of the new Act to a failure to comply with a provision of the new Act as including a reference to a failure to comply with a provision of old Act (see item 6 and paragraph (2)(f) of item 1).